It's easy to throw out a number only and create a negative out of it. If that's the way you conduct your due diligence, and it works for you, more power to you.
Win has some 700Mhz spectrum it is going to sell, evidently to at&t, which seems to be worth quite a bit. That being said, the powers that be at Win are financially very responsible. It would not surprise me if the revenue received from that spectrum sale is not, at least partially, used to retire some debt.