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Crystal@CrystalCox.com
Links to Research
http://www.advfn.com/nyse/StockNews.asp?stocknews=PCS&article=45731859&headline=terrestar-creditors-fight-over-competing-backstop-plans
http://blogs.wsj.com/bankruptcy/2010/12/17/the-daily-docket-metropcs-eyes-terrestar-assets/
http://www.businessweek.com/news/2011-03-03/metropcs-looking-at-everything-in-wireless-spectrum-hunt.html
"MetroPCS Communications Inc. is exploring a purchase of assets of mobile-communications business TerreStar Networks Inc. out of bankruptcy court, said people familiar with the matter.
No offer has been made and a deal may never materialize, the people cautioned.
But they said MetroPCS is among parties that are considering a potential deal for TerreStar, which could attract a price greater than $1 billion.
TerreStar's most attractive assets are government licenses to use certain pieces of radio spectrum, the limited pockets of airwaves available for high-speed data, or so-called 4G, networks.
MetroPCS, the fifth-largest U.S. wireless carrier by subscribers, has been on the hunt for spectrum that will help it become a national operator.
Currently, the company must contract out to other carriers for "roaming" agreements in areas where it lacks its own network.
TerreStar, based in Reston, Va., owes roughly $1 billion to senior secured bondholders led by Charles Ergen's EchoStar Corp., the satellite-media company that built set-top boxes for Dish Network. Under TerreStar's current bankruptcy reorganization plan, the bondholders would convert their debt to equity and own 97% of the restructured company.
is exploring a sale alongside its current restructuring plans to see if it can attract more value for credit"
No offer has been made and a deal may never materialize, the people cautioned.
But they said MetroPCS is among parties that are considering a potential deal for TerreStar, which could attract a price greater than $1 billion.
TerreStar's most attractive assets are government licenses to use certain pieces of radio spectrum, the limited pockets of airwaves available for high-speed data, or so-called 4G, networks.
MetroPCS, the fifth-largest U.S. wireless carrier by subscribers, has been on the hunt for spectrum that will help it become a national operator.
Currently, the company must contract out to other carriers for "roaming" agreements in areas where it lacks its own network.
TerreStar, based in Reston, Va., owes roughly $1 billion to senior secured bondholders led by Charles Ergen's EchoStar Corp., the satellite-media company that built set-top boxes for Dish Network. Under TerreStar's current bankruptcy reorganization plan, the bondholders would convert their debt to equity and own 97% of the restructured company.
is exploring a sale alongside its current restructuring plans to see if it can attract more value for credit"
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