Forbes reports that US mobile broadband start-up LightSquared is working with Qualcomm to develop processors supporting its hybrid terrestrial-and-satellite network.
Harbinger Capital Partners, the investment fund led by Philip Falcone, has sold its stake in Clearwire and reduced its stake in Sprint Nextel, filings made to the US Securities and Exchange Commission revealed.
Reuters reports that hybrid satellite/3G network operator TerreStar is working with a restructuring team from private equity fund Blackstone Group and is in negotiations with its major creditors, in order to avoid having to file for bankruptcy.
Broadband wireless vendor Airspan Networks has emerged as a surprise first partner to resell spectrum from LightSquared, the proposed new wholesale LTE network in the US. Airspan announced yesterday that it will market LightSquared’s 1.4GHz spectrum as part of its Smart Grid and Smart Utility applications targeted at the electric, gas and water utility sectors in the US.
More details have emerged on US hedge-fund Harbinger’s plan to build a wholesale LTE network in the US, with a Bloomberg report noting that the venture is in advanced talks to lease its spectrum to ‘US technology companies’ and it has already reached agreements with device makers.