Google will require up to $4.6 billion in financingAdd to Nov. 19, 2007
Google will be needing capital financing of up to $4.6 billion in order to be able to bid for wireless spectrum in the 700 Mhz auction coming up in about two months from now. This is according to a report from the Wall Street Journal. The Journal also said that Google is planning to use a combination of its own cash reserves and some financing to fund its various wireless spectrum bids. Earlier in 2007, the search company lobbied hard for the FCC's 700 MHz auction rules to include an open access opportunity. Since that time, the wireless industry has been speculating whether Google would actually bid on the licenses or not. In October, Google announced Android, its handset operating system which could run on a number of wireless devices and that would be open to outside developers. Citing some industry insiders that are familiar with these developments, the article also said Google already is running a test version of a wireless network at its headquarters in Mountain View, Calif. Overall, wireless carriers and interested parties have until Dec. 3. 2007 to declare if they are participating in the spectrum auction. Add to
Source: BlogScoped
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