U.S.-traded shares of Vodafone PLC, which owns the rest of Verizon Wireless, rose 24 cents to $25.81 on the NYSE. Shares of Verizon Communications Inc., 55 percent owner of Verizon Wireless, rose 2 cents to $40 on the New York Stock Exchange. Nextel's shares closed up 81 cents at $26.90, a gain of 3.1 percent, on the Nasdaq Stock Market. He noted that both sides may have decided the dispute was an unneeded distraction with the emergence of a powerful new rival now that Cingular Wireless and AT&T Wireless have merged. "It was getting ridiculously bitter, and I think they reached a point where saner, cooler heads could prevail," said John Ryan, president and chief analyst for the research firm RHK.
The agreement announced Tuesday ends a very public argument in which each company nastily accused the other of putting business interests ahead of public safety concerns. In exchange for Verizon dropping its opposition to the spectrum proposal, Nextel is withdrawing its claim of trademark rights for the phrase "Push To Talk" and the word "push" to describe the popular walkie-talkie service that Nextel introduced to cell phones and that Verizon and other rivals now offer. and Verizon Wireless unexpectedly resolved a heated dispute Tuesday over a federal proposal to clear up interference between cell phones and emergency response radios by moving Nextel's signals to a more valuable band of spectrum.
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