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May 22, 1997updated 05 Sep 2016 12:37pm

FCC APPROVAL MEANS NEXTWAVE CAN KEEP ITS FOREIGN INVESTORS

By CBR Staff Writer

Privately-held personal communications services firm NextWave Telecom Inc has won approval from the US Federal Communications Commission for its request to extend the period it was given to reduce the level of foreign ownership. The company says that it will now not have to jettison any of its foreign investors, which make it says makes up 22% of its interests, in light of the World Trade Organization agreement to remove national restrictions for telecommunications companies.

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