Former LightSquared hires banks to explore options - Mobile World Live

Former LightSquared hires banks to explore options

14 MAR 2017

Ligado Networks – the successor to failed networks play LightSquared – is working with financial advisors to consider its future, Reuters reported.

Goldman Sachs and PJT Partners have been appointed, and the company will consider a sale, new investment or equity partnerships.

Ligado/LightSquared has a chequered history, including filing for bankruptcy protection in 2012, before emerging with new owners in 2015.

It had intended to use spectrum it owned to launch an LTE network, but the frequencies were not among the core 4G bands, and sparked complaints from the GPS industry which said there was a real danger of interference.

And the GPS issues rumbles on – last month another report on the issue was published.

Under its new guise of Ligado, the company is looking at opportunities in 5G and IoT. It has engaged with the US Federal Communications Commission, arguing that its plan is “aligned with the Commission’s stated goals of providing the foundation of the 5G future”.

While Ligado owns valuable mid-band spectrum, the lingering uncertainty over its ability to make use of it is likely to impact its attractiveness.

And Reuters said that its debt load may also be an issue.

Author

Steve Costello

Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist...More

Read more

Related

Tags