LightSquared $2B Talks Extended As Falcone Rumors Persist

Law360, New York (April 30, 2012, 7:51 PM EDT) -- Beleaguered LightSquared Inc. on Monday snagged a weeklong extension from lenders to negotiate terms for $2 billion in due debt, a spokesman told Law360, following reports that Harbinger Capital Partners LLC head Philip Falcone may curtail his public role with the wireless network startup.

The extension came as Monday's deadline closed in on the hedge fund, which has invested $2.9 billion into LightSquared, which aims to build a nationwide 4G LTE wireless network despite having its operating licenses pulled by a federal agency two months ago....
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