Subject: [NEXTEL-1] Gates Raises Stake in Nextel Partners

From: Marcel <[email-masked]>
Date: Mon, 02 Dec 2002 15:18:00 -0500

http://biz.yahoo.com/rb/021202/telecoms_nextelpartners_1.html

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Reuters

Gates Raises Stake in Nextel Partners
Monday December 2, 11:18 am ET

KIRKLAND, Wash. (Reuters) - Microsoft Corp. (NasdaqNM:MSFT - News)
Chairman Bill Gates has raised his stake in wireless telephone
company Nextel Partners Inc. (NasdaqNM:NXTP - News) to more than 5 percent by
purchasing shares from wireless pioneer Craig McCaw, Nextel
Partners said on Monday.

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The news sent Nextel Partners shares up about 12 percent.
Gates' private investment arm, Cascade Investment LLC,
bought 3.75 million Nextel Partners shares from McCaw and now
owns 12.7 million shares, or a 5.2 percent stake.
McCaw remains a major shareholder with 15.8 million shares,
or 6.4 percent of the Kirkland, Washington-based company.
Nextel Partners shares jumped 79 cents to $7.39 in morning
Nasdaq trade. Nextel Partners, an affiliate of Nextel
Communications Inc. (NasdaqNM:NXTL - News), provides wireless service under
the Nextel brand.
In October, Nextel Partners posted a narrower quarterly net
loss as service revenue rose 72 percent and it added more
subscribers than it had expected.
Nextel Communications and Nextel Partners have continued to
post strong results, despite a tough economic environment and
an industry-wide slowdown in subscriber growth, due to the
popularity of Direct Connect, a unique service similar to a
walkie-talkie that is especially popular among technicians and
construction crews.
Since the beginning of October, Nextel Partners shares have
risen 28 percent, while Nextel Communications shares have
soared more than 76 percent.
Shares of Nextel Communications were up 62 cents, or 4.5
percent, at $14.38 on Nasdaq. The Philadelphia Stock Exchange's
wireless telecommunications index (Philadelphia:^YLS - News) was up 5.5 percent.

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