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By statute, good "character" is a requirement for holding a wireless license.
And to think that when Mannesmann first applied for a wireless license in 1989, the move seemed little more than a side bet.
MobilCom reported a third-quarter loss of 2.86 billion euros ($2.84 billion) as it wrote down the value of a wireless license by 9.9 billion euros.
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Borrowing for expansion and the cost of a new wireless license contributed to a 42percentt drop in quarterly earnings at British Telecommunications P.L.C., to $314 millionn, or $476 million, from $546 millionn a year earlier.
After an auction for licenses in Britain earlier this year, Telekom pledged to pay $4 billion $6.4 billionon) for a British wireless license -- not including the costs it will assume for building a new network.
A similar wireless license auction in neighboring Germany raised five times the amount expected.
Google has said it might bid for a United States wireless license, although applications are not due until Dec. 3.
The chairman, Wang Xiaochu, 47, is counting on getting a nationwide wireless license to raise earnings as more Chinese opt for mobile phone services.
Sonera, which together with Telefónica Móviles S.A., spent $7.2 billion for a German wireless license, has one of the lowest credit ratings of the major European phone companies.
Earlier this month, Deutsche Telekom surprised its European rivals by abruptly dropping out of the race to acquire a new wireless license in France.
Blu S.p.A., a consortium formed to bid for an Italian wireless license, had to withdraw from the auction because British Telecommunications could not contribute more capital.
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