Singapore, usually pegged as a leader in the race to roll out third-generation wireless technology, cut the opening bid in its April cellular license auction from $85 million to $56 million, and pushed back the deadline for deployment by a year to Dec. 31, 2004. The opening bid was set last year, before the tech downturn.
Chipping Away at PSINet
Data carrier PSINet continued parsing itself out last week, selling a unit to an investment group for $300 million, and a division of its consulting business and a San Francisco data center site to separate buyers. It sold its international consumer dial-up unit earlier this year. The transactions havent put PSINet in the black and sources say it continues to consider other options, including selling the entire company.
Integrated communications provider Conversent Communications has closed on a $186 million second round of funding that includes $105 million in secured debt and $81 million in private equity led by cable entrepreneur Robert Fanch. Conversent, based in Marlboro, Mass., bundles voice, data and Internet services.