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Omnipoint Settles Charges Over FCC Bids

November 11, 1998| Bloomberg News

Omnipoint Corp. and two other companies settled federal charges that they colluded when the Federal Communications Commission auctioned off licenses for cellular phone and other digital communication services. The suits, filed in federal court in Washington at the same time as the settlements, accused Bethesda, Md.-based Omnipoint, Mercury PCS II and 21st Century Bidding Corp. of using coded bids to avoid competing for licenses for so-called personal communications services, or PCS. PCS includes a range of telecommunication services, including wireless and cellular phones. As a result of the alleged collusion, the government received less money than it would have for licenses in Indianapolis; Toledo, Ohio; and Lubbock, Texas, the Justice Department said. Omnipoint shares fell $3.19 to close at $7.81 on Nasdaq.

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