By Tony Hallett, 16 January 2002 07:28
NEWS Netro, a provider of wireless infrastructure to service providers, has agreed to buy AT&T Wireless' broadband fixed wireless assets. The deal is worth $45m in cash and stock. AT&T Wireless' efforts to enter the local telephony market in the US through the use of fixed wireless technology and cable networks has been disappointing. The company has now decided to concentrate on mobile communications. In the aftermath of the deal, AT&T Wireless will own 13.5 per cent of Netro and have a place on the company's board. Netro intends to make use of the fixed wireless assets and expertise - collectively known as Project Angel - in markets such as China and Latin America.
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