US based hedge fund Harbinger Capital Partners is planning to raise some US$1bn-US$2bn, to back a wireless venture on the US market, according to the Wall Street Journal.
The report, which cites people familiar with the situation, states that the US…
US based hedge fund Harbinger Capital Partners is planning to raise some US$1bn-US$2bn, to back a wireless venture on the US market, according to the Wall Street Journal.
The report, which cites people familiar with the situation, states that the US hedge fund is planning to raise the funds for a mobile venture, providing high speed wireless services across the US,
Talks with investors are thought to be underway and Harbinger is believed to have brought in Sanjiv Ahuja, former CEO of France Telecom’s mobile subsidiary Orange, to head up the venture.
Investors for the project are said to include SK Holdings and US based telco Qwest Communications, which was last week taken over by CenturyTel in a US$10.6bn deal. Qwest provides landline services across the US.
A launch of the wireless network is reportedly set for Q3 2011, with initial roll out of the service planned for the US states of Denver and Phoenix, where Qwest is based.
