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NEW YORK — In a keynote address today kicking off the DLJ 16th Annual Wireless & Satellite Conference, Denny Strigl, president and CEO of Verizon Wireless, commented on upcoming spectrum auctions and associated rules.
"Long term, significant demand for data and broadband will require more spectrum. While we have traditionally been aggressive bidders, we also have been prudent bidders. Frankly, in evaluating the business case for 700 MHz, this spectrum is heavily encumbered. Without rule changes, those encumbrances could weigh heavily in bidding decisions and the overall value of these properties."
He said "It is in the best interests of the industry, consumers and the government to revise these rules - even if it means delaying the auctions."
Last month, the FCC delayed the 700 MHz band auction to September 6, and earlier this month, the FCC postponed the re-auction of C-Block PCS licenses, originally scheduled for July 26, to November 29, 2000. Access to the additional spectrum offered in the upcoming FCC auctions will enable wireless carriers like Verizon Wireless to plan for the long-term, to meet demand for advanced voice and high-speed data capacity, particularly as third-generation (3G) services are rolled out.
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About Verizon Wireless
Verizon Wireless is the largest wireless communications provider in the U.S. with more than 18 million wireless voice and data customers and nearly 4 million paging customers. The new coast-to-coast wireless company was formed by the combination of the U.S. wireless businesses of Bell Atlantic Corp. (NYSE:BEL) and Vodafone AirTouch Plc (LSE:VOD; NYSE:VOD). The new company includes the assets of Bell Atlantic Mobile, AirTouch Cellular, PrimeCo Personal Communications and AirTouch Paging. Verizon Wireless will be further strengthened by the addition of the wireless assets of GTE Corp. (NYSE:GTE) when it completes its merger with Bell Atlantic. The new company will have a footprint covering nearly 90 percent of the U.S. population, 49 of the top 50 and 96 of the top 100 U.S. markets. Headquartered in New York City and Bedminster, NJ, Verizon Wireless is 30,000 employees strong. Reporters and editors can find more Verizon Wireless information at http://www.verizonwireless.com/mediacenter.
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