Hedge fund Harbinger Capital Partners has appointed telecoms industry veteran Sanjiv Ahuja as the chairman and chief executive of its new nationwide 4G-LTE wireless broadband company.
Ahuja, who will be based in New York, was formerly the CEO of France…
Hedge fund Harbinger Capital Partners has appointed telecoms industry veteran Sanjiv Ahuja as the chairman and chief executive of its new nationwide 4G-LTE wireless broadband company.
Ahuja, who will be based in New York, was formerly the CEO of France Telecom’s mobile operator Orange from 2004 to 2007 during which time the company’s customer base grew from 48 million to over 100 million subscribers globally. In 2007, Ahuja founded Augere, a wireless broadband provider to underserved customers in developing markets such as Bangladesh and Pakistan. He is also the founder and chairman of Eaton Telecom, a telecommunications infrastructure company with a presence in 12 African countries.
Philip Falcone, founder and CEO of Harbinger, said: “It was critical to find someone with the right management skills to build a great team, as well as someone with the operational expertise and technical knowledge to deliver on our vision. Sanjiv is a proven leader and experienced executive, and we’re privileged to have him leading the company.”
“This new company will unleash the boundless opportunity of high-speed wireless broadband connectivity for all,” said Ahuja. “It’s an honour to lead a company that I believe will transform the broadband industry by generating innovation, creativity and freedom of choice.”
Following its US$262.5m acquisition of MSS operator SkyTerra, Harbinger announced its plan to build a hybrid satellite terrestrial mobile network across the United States. The hedge fund expects to roll out the completed network in 2015, hitting a series of population coverage milestones in the interim. Once the network is complete, the new company will offer wireless capacity on a wholesale basis to retail distribution customers, such as mobile service providers and MVNOs as well as PC and consumer electronic equipment manufacturers.
With the project expected to cost around US$4bn to roll out, Harbinger is believed to be looking for funding of up to US$2bn. Sanjiv already has experience of raising major financings with his two telecoms start ups and even attracted a minority investment from Harbinger in Augere in October 2009 when the hedge fund paid US$50m for a 25% stake.