A LightSquared at the end of the tunnel? PE firm lodges USD3.3bn offer for bankrupt start-up

12 Dec 2013

Centerbridge Partners, a New York-based private equity firm, is set to acquire bankrupt US wireless start-up LightSquared for USD3.3 billion, a person familiar with matter has told Bloomberg. However, the offer price does not include around USD1.7 billion in loans and liabilities, it has been suggested. Ill-fated LightSquared, currently backed by Phil Falcone’s Harbinger Capital, had been seeking to reorganise itself by selling most of its spectrum assets via auction. Charlie Ergen, owner of US satellite TV giant DISH Network, had been the lead bidder for the airwaves, after tabling a USD2.22 billion offer, but this week’s auction was abruptly cancelled, dashing his plans.

United States, LightSquared, DISH Network,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share