AT&T, Nextel Face $10 Billion Question in Wireless Auctions

The country's six nationwide wireless operators will have to pony up big bucks to capture new spectrum and 160 million users in key markets this November.

But just how much companies like AT&T Wireless(AWE Quote), Nextel (NXTL Quote) and a consortium of SBC(SBC Quote) and BellSouth (BLS Quote) will have to shell out is the question -- and a $10 billion one at that.

"If the U.S. licenses sell for $10 billion, the market will love it," says an analyst who is watching the auctions but did not want to be named. "If they go for $20 billion, the market will hate it." ...