November 06, 2005
XO Communications
XO Communications, Inc will raise $ 700 million from the sale of its national wireline telecommunications business in order to finance the creation of a broadband wireless service for businesses and service providers. The company will retain ownership of the fixed broadband wireless spectrum assets and will hold licenses for the 28 GHz-31 GHz spectrum range that covers several major markets in the U.S. tmcnet.com reports:
"The action we take today will create a pure-play fixed broadband wireless provider that combines significant resources with in-depth industry expertise to meet the growing demand for high-bandwidth broadband wireless services," said XO CEO Carl Grivner.
Read More: XO Communications Announces Agreement
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