Monday, November 07, 2005

XO to Sell Wireline Assets to Carl Icahn

"XO to Sell Wireline Assets to Carl Icahn, Enter Wireless Broadband business: XO Communications will sell its national wireline telecomms business for $700 million in cash and use the proceeds to become a leading provider of fixed broadband wireless services to businesses and service providers. The winning bidder was Elk Associates LLC, an entity owned by XO's controlling stockholder, Carl Icahn. XO currently is one of the largest holders of fixed wireless licenses in the 28 GHz-31 GHz spectrum range covering more than 70 U.S. major metropolitan markets."

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