But Time May Be Short As Investors Bet On Failure
When Harbinger Capital Partners
invested in LightSquared, it was betting that radio spectrum,
bought at prices reflecting its availability only for satellite
downlinks, could be repurposed into a much more valuable
terrestrial 4G LTE network. Instead, LightSquared is now seeing its
own debt being traded at steep discounts, a
sign that some investors believe the company will
not be able to complete its network.