Activist invest Carl Icahn has purchased debt of the proposed US LTE wholesale network LightSquared, reports Bloomberg. Sources say Icahn and two other investors have purchased US$300 million in debt sold by Farallon Capital Management, giving them control of LightSquared’s spectrum for less than investor Philip Falcone originally paid for it. LightSquared is currently battling to get its network approved by regulators after tests suggested the network could interfere with critical GPS services.