US private investment fund Harbinger Capital Partners has acquired a 9.5 percent stake in smartphone maker Palm, Bloomberg reports. Harbinger owned 16 million Palm shares as of 26 March, according to a filing with the US Securities and Exchange Commission. Private equity firm Elevation Partners is the largest Palm shareholder, with a 30 percent stake in the company. Following the acquisition, Harbinger becomes the third-biggest holder of common stock, behind Fidelity Management & Research and Capital World Investors.
