NextWave told the U.S. Bankruptcy Court, White Plains, N.Y., this...
NextWave told the U.S. Bankruptcy Court, White Plains, N.Y., this week that Cingular Wireless was the only company interested in buying certain PCS licenses for $1.4 billion. The bankruptcy court earlier had approved bidding procedures for the 34 licenses…
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if other companies signaled a willingness to submit competing offers under certain conditions. Cingular said last month it planned to pay NextWave $1.4 billion in cash for 10 MHz of PCS spectrum in 32 markets, including Dallas and L.A., and 20 MHz licenses in Tampa and El Paso. Because no qualified bids were received by a bid deadline of Sept. 15, a court-overseen auction wasn’t held Sept. 23, NextWave told the court Mon.