Harbinger Wireless Co. Mulls IPO

Apr 12 2011 | 4:47am ET

Harbinger Capital Partners may be looking for a way to cash in on its huge investment in wireless broadband.

The New York-based hedge fund, which has poured some 40% of its $6 billion in assets into the 4G venture, LightSquared, held talks about a potential initial public offering in New York last week and plans to do so again on the West Coast sometime next month, Reuters reports. The company could go public as early as this summer, as it begins trial runs in four cities. Further trials, part of its deal with Best Buy Co., will begin next year.

Reston, Va.-based LightSquared has been meeting with telecommunications analysts and institutional investors. Last week, it met with a Morgan Stanley analyst and mutual fund representatives at LightSquared’s Manhattan offices—which happen to be located in the same building as Harbinger’s offices.

Experts say that LightSquared needs to raise another $6 billion to build out its network, which it is set to do by 2015 under a Federal Communications Commission waiver.


In Depth

Kettera Q&A: The Advantages of Alternative Investment Platforms

Oct 28 2016 | 5:52pm ET

The past several years have seen a distinct push towards easier and cheaper access...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR