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THURSDAY, DECEMBER 13, 2001

Opposition by key members of the Senate has killed a settlement affecting three Alaska Native corporations' investment in a wireless telecommunications deal.

Sealaska Corp., Doyon Ltd., and Arctic Slope Regional Corp. want to ensure their stake in a $2.9 million deal was protected. But due to a federal appeals court ruling, the venture has been placed in doubt.

The Department of Justice then worked out a settlement on the issue, allowing the Native corporations and their partner AT&T to keep their wireless licenses. But since the deal would involve paying a third company $4.3 billion, Sens. Ted Stevens (R-Alaska), John McCain (R-Ariz.) and Fritz Hollings (D-S.C.) are opposing it.

Get the Story:
Senators sink wireless deal (AP 12/13)

Related Stories:
Native venture pleas to Supreme Court (8/31)
Native Corps want investment protected (7/26)
Alaska Native venture placed in doubt (6/29)