Renowned activist investor Carl Icahn has acquired debt in US satellite/terrestrial venture LightSquared, according to US media reports.
Citing two anonymous sources, Reuters reported that Icahn and other investors had acquired some of LightSquared’s…
Renowned activist investor Carl Icahn has acquired debt in US satellite/terrestrial venture LightSquared, according to US media reports.
Citing two anonymous sources, Reuters reported that Icahn and other investors had acquired some of LightSquared’s debt.
Reuters also cited sources as saying that LightSquared was considering selling its right to some spectrum licences.
LightSquared declined to comment. Icahn Enterprises, the holding company headed by Icahn, was not immediately available for comment.
Last week, LightSquared representatives said in a conference call with reporters that the company had enough money to last it several quarters. It was also said that the company was not trying to raise money right now.
The company is still trying to get regulatory approval to operate its network. Regulators and the GPS industry have voiced concerns about potential interference caused by LightSquared’s technology on GPS.
According to a LightSquared spokesman, the venture’s spectrum assets include 59MHz of nationwide ubiquitous spectrum. This includes 40MHz of L band spectrum for LTE, 6 MHz of L band spectrum for satellite usage and 13MHz of “additional spectrum resources”.
