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April 15, 1997updated 05 Sep 2016 12:09pm

MCCAW FAMILY TO ACQUIRE 15M NEXTEL SHARES FOR $232M

By CBR Staff Writer

Nextel Communications Inc says the McCaw family has made an early commitment to exercise its option to acquire 15 million shares of Nextel on July 28, at an exercise price of $15.50 per share, $232.5m all told. The McCaw family also paid $25m for options to acquire up to 25 million shares expiring in July 1998, for a total exercise price of $420m.

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