Subject: [NEXTEL-1] The Proof- Nextel Admits To Violating Foriegn Ownwership Rules in SEC Filing

From: Marcel <[email-masked]>
Date: Sun, 17 Nov 2002 02:00:43 -0500

I guess Nextel figured that People in the Philippines did not know how to read a 10Q
(not).
Since they slipped in "ABOUT" 59 percent, I'm sure that about will turn into 40%.

"Nextel-How Business Gets Done"

				-Dirty
=========================================================================================

Nextel Admits To Violating Foriegn Ownwership Rules in SEC Filing

Wednesday, March 6, 2002
 SPIN
 By Larry V. Sipin
  No tomorrow for May bukas…

There’s this ironic problem facing industry player Nextel. Whereas lack of investment is a
perennial problem, Nextel is in trouble for allegedly having moreforeign capital than
allowed by law which says 60 percent Pinoy, 40 percent foreign for vital utilities
companies. Reportedly, the foreign partner, US-based Nextel International Inc., informed
the US Securities and Exchange Commission in its latest mandatory annual disclosure that
it owns 59 percent of its Philippine subsidiary, a violation of the cap.
-------------------------------------------------------------------------------------------------------------
From Nextel's SEC 10Q

E.  NII Holdings, Inc.

We have ownership interests in international wireless companies through our substantially
wholly ownedsubsidiary, NII Holdings, Inc. (formerly known as Nextel International, Inc.).
NII Holdings through its operatingsubsidiaries provides wireless communications services
targeted at meeting the needs of business customers in selectedinternational markets. Its
principal operations are in selected major business centers and related transportation
corridors of Brazil, Mexico, Argentina and Peru. NII Holdings also provides analog
specialized mobile radio services in Chile and owns, directly and indirectly, about a 59%
interest in a digital mobile services provider in the Philippines.

http://ccbn.tenkwizard.com/filing.php?repo=tenk&ipage=1696568&doc=1&total=&attach=ON&TK=nxtl#021

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