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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note