Subject: [NEXTEL-1]APCO REGIONAL COMMITTEE BREAKS FROM APCO NATIONAL ORGANIZATION AND DENOUNCES BPL"

From: [email-masked]
Date: Wed, 05 May 2004 06:27:32 -0400

I have not done a recent valuation on Nextel, but if you remember almost
a year ago I posted  new spectrum valuation numbers and everyone barked.
Now the numbers are becoming a reality and all the Nay-Sayers have
disappeared.  With 10 Mhz of 1.9 GHZ you can start you own PCS company.

I spoke to both Cingular and VZ separately on the acquisition of Nextel
and they both indicated that they had little interest in Nextel at this
time due to its mangled spectrum position and its antiquated
infrastructure. VZ did say nothing is written in stone and VOD really
wants a true US presence. I also asked if they acquired Nexel would they
keep Timmy.  One said yes the other said no. VZ indicated Nextel in its
current state is a liability. He noted that Nextel has "Slipped" on two
key metrics:

1) Slipped from 5th to 6th largest carrier

2) Slipped from 1st to 2nd place in lowest churn.

Cingular said Nextel will not be able to Shake the "Debt  Monkey" off
their back.
The next network upgrade will cost Nextel  approx. $5B in infrastructure
and $3-5B in spectrum.
With their $10B in existing debt Nextel could potentially end up with a
$20B "Debt Monkey"
on their back by 2006-7 .

Jack Daniel wrote:

> The $5 billion value of the spectrum that will be given to Nextel is
> more than Nextel is really worth. Cingular or Verizon should just buy
> Nextel as soon as the FCC gives them the 1.9 band and they'd get the
> bargain of the century. And maybe they will.