LICT to refile auction application with FCC
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- December
- 21
LICT Corp. filed an incomplete application with Federal Communications Commission earlier this month to participate in the regulatory agency’s auction next month of 700-megahertz wireless spectrum licenses, the company said today.
“LICT expects to promptly complete the application to the FCC’s satisfaction and be accepted as (a bidder),� the Rye-based company said in a statement.
The telecommunications and broadcasting company’s application was one of 169 submitted the FCC sent back as incomplete, LICT said.
Competitors for the spectrum include Verizon Wireless, AT&T and Google. The auction is scheduled for Jan. 24.
LICT also announced the sale of four of its existing 700 megahertz licenses, under an agreement made Dec. 3. Transfer of the permits is subject to a variety of conditions, including FCC approval, LICT said. The transaction is expected to close in the middle of next year.
LICT acquired the licenses at auction in 2002.
Earlier in the week, the company reported it had received an offer for the purchase of all its outstanding shares at a premium to the stock’s current price, which stood at $3,712 a share in late-afternoon trading.
In dismissing the offer, LICT said Tuesday that it believed the company was worth much more than the undisclosed offer.
LICT reiterated today that the company’s board was evaluating alternatives.
This entry was posted
on Friday, December 21st, 2007 at 4:17 pm by David Schepp.
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Category: Corporate doings
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