WASHINGTON -(Dow Jones)- The Federal Communications Commission on Friday asked for public comment on Nextel Communications Inc.'s (NXTL) request that the agency reconsider the valuation of its spectrum swap.
The FCC would give Nextel spectrum space in exchange for exiting airwaves that cause interference with public safety authorities.
The FCC also extended to 75 days the amount of time Nextel will have to accept or reject the FCC's plan once it's published in the Federal Register. It previously had 30 days.
In a July deal valued at $4.8 billion, the FCC voted 5-0 to grant the company's request for a 10-megahertz swath of prized spectrum, capable of handling new services such as wireless Web browsing. In return, Nextel would give back slices of its interference-causing airwaves valued at roughly $1.6 billion and agree to spend at least $3.2 billion to help relocate affected users.
In a filing last month, Nextel said the FCC plan underestimates the credit the firm should receive for its spectrum contribution by $452 million.
-By Brian Blackstone, Dow Jones Newswires; 202-828-3397; brian.blackstone@dowjones.com
(END) Dow Jones Newswires "
Posted to the site on 23rd October 2004
Posted to: www.cellular-news.com/story/11234.php