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May 8, 2012

Mobile USA tower process may take months-exec

NEW ORLEANS (Reuters) – T-Mobile USA, the No. 4 U.S. mobile provider, has received a lot of interest in the wireless broadcast towers it is looking to sell but a top company executive said on Monday that the process could take “several months to pan out.”

T-Mobile USA had previously said it would explore the sale of its 37,000 wireless towers in an effort to make the company more financially independent of its parent Deutsche Telekom after its attempt to sell T-Mobile USA to rival AT&T Inc failed last year due to regulatory opposition.

May 7, 2012
May 7, 2012
May 7, 2012

AT&T making big investment in home monitoring

NEW YORK, May 7 (Reuters) – AT&T Inc is making a big
investment in a nationwide wireless home monitoring service that
could potentially add $1 billion to its annual revenue as part
of the No. 2 U.S. mobile operator’s ongoing effort to expand
beyond cell phones.

It is planning a service called “Digital Life” to monitor
homes for everything from water damage to burglaries and to let
customers remotely do things like adjust temperature or unlock
doors, using an Internet connection.

May 6, 2012

Icahn sells LightSquared debt, creditors extend talks-sources

NEW YORK, May 6 (Reuters) – Billionaire investor Carl Icahn
has sold his $250 million debt holdings in Philip Falcone’s
telecom start-up LightSquared [MOSAV.UL], while Falcone
continues to negotiate with creditors to avoid a debt default,
according to sources familiar with the matter.

News of Icahn’s debt sale comes as remaining creditors
agreed to a second week-long extension until May 14 of their
talks with Falcone about reducing his firm, Harbinger Capital
Partners’ 96 percent equity stake in LightSquared.

May 6, 2012

Exclusive: Icahn sells LightSquared debt, creditors extend talks: sources

NEW YORK (Reuters) – Billionaire investor Carl Icahn has sold his $250 million debt holdings in Philip Falcone’s telecom start-up LightSquared MOSAV.UL while Falcone continues to negotiate with creditors to try to avoid a debt default, according to sources familiar with the matter.

News of Icahn’s debt sale comes as remaining creditors agreed to a second week long extension until May 14 of their talks with Falcone about reducing his firm, Harbinger Capital Partners’ 96 percent equity stake in LightSquared.

May 6, 2012

Falcone’s LightSquared extends creditor talks another week

NEW YORK, May 6 (Reuters) – Creditors of hedge fund manager
Philip Falcone’s telecom start-up LightSquared have agreed to
extend talks a second week, avoiding a default for now on about
$1.6 billion of debt, according to a source familiar with the
matter.

The person, who asked not to be named, said on Sunday that
talks could continue until May 14 as LightSquared’s debt holders
had agreed to extend the deadline.

May 4, 2012

U.S. mobile industry faces spectrum, deal paralysis

NEW YORK (Reuters) – Complaints about the shortage of wireless frequencies and a need for U.S. mobile carriers to consolidate will dominate the industry’s largest annual gathering next week, but regulatory uncertainty may leave the sector powerless to deal with its most pressing issues anytime soon.

U.S. wireless operators argue that too many competitors are fighting over a mature market and that they urgently need more spectrum to cope with increasing demand for bandwidth-hungry services such as video and social networking.

May 2, 2012

Republican strategist Rove lends hand to Falcone

BOSTON/NEW YORK, May 2 (Reuters) – Billionaire investor
Philip Falcone may be wishing upon a star – the Republican super
strategist kind, that is – to keep his ailing telecom start-up
LightSquared Inc alive.

With only days to go before hitting a new deadline set by
LightSquared’s debtors and lacking regulatory authority to move
forward with his business plans, Falcone is leaning on Karl
Rove, one of the Republican party’s most successful political
strategists.

Apr 30, 2012

LightSquared creditors eye equity, Falcone may cut role

NEW YORK (Reuters) – LightSquared creditors are pushing for Philip Falcone’s Harbinger Capital Partners to reduce its ownership stake in the money-losing telecommunications start-up as they extend talks to avoid declaring a loan default that would result in bankruptcy.

Falcone has told creditors he could reduce his own role in LightSquared if they hold off on declaring a loan default. On Sunday, Falcone and LightSquared creditors agreed to delay a default notice on a $1.6 billion loan for at least a week as they continue their talks.

    • About Sinead

      "Sinead is a telecommunications industry correspondent. Her coverage area spans U.S. service providers, cellphone makers and chip makers. Before joining Reuters in 2002, she covered technology and telecoms for various trade publications."
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