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Wireless

Centerbridge Partners near deal to buy LightSquared - report

Thursday 12 December 2013 | 09:03 CET | News
Private-equity firm Centerbridge Partners has reached a tentative deal to buy LightSquared out of bankruptcy proceedings, people familiar with the matter told the Wall Street Journal. Centerbridge proposed paying roughly USD 3.3 billion for the wireless venture backed by financier Philip Falcone and assuming about USD 1.7 billion in various liabilities. The deal would be executed under a bankruptcy-reorganization plan, some of the sources said. Satellite TV group Dish Network earlier this year bid USD 2.2 billion for LightSquared. This was to serve as the opening offer for a bankruptcy

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Categories: Mobile & Wireless
Companies: Dish Network / LightSquared
Countries: United States
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