Wireless telecom company Nextel needed consent from bondholders if it was to pursue its strategy as planned
When wireless telecom company Nextel launched a proxy solicitation to ensure bondholder and stockholder consent to expansion plans that would triple the size of the
company, Paul Blalock, executive director of IR, lost a few nights sleep.
Assuming their consent was forthcoming, Nextel would claim the largest footprint of any wireless telecom company in America, covering some 250 mn people - or 'pops' in the industry jargon. More importantly, Nextel would potentially have up to a billion dollars
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