Nextel advanced $250 million to Arch Wireless as part of previous...
Nextel advanced $250 million to Arch Wireless as part of previous agreement for latter to sell 900 MHz specialized mobile radio licenses. Nextel is acquiring licenses from Arch subsidiary for aggregate price of $175 million. Nextel plans to invest…
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$75 million in new Arch equity issue. Advance of $250 million is in form of $175 million loan secured by SMR licenses and $75 million unsecured loan. Loans are for new separate Arch subsidiary that will hold licenses until regulatory approvals are received to transfer them to Nextel.