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Harbinger awards NSN $7bn network contract
21 July 2010
Nokia Siemens Networks is to run LightSquared, a satellite-based mobile phone network owned by Harbinger private equity and run by Sanjiv Ahuja
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LightSquared
Harbinger
NSN
Nokia Siemens Networks
Sanjiv Ahuja
Nokia Siemens Networks has entered into a $7 billion eight-year contract with Harbinger Capital Partners to develop a high-speed mobile phone network in the US. The new network, LightSquared, will be launched in the second half of 2011.
The network will be led by former head of France Telecom’s Orange mobile businesses, Sanjiv Ahuja.
The network, which will be based on LTE technology, will consist of 40,000 base stations that will cover 92% of the US population by 2015. LightSquared, which will have access to large amounts of radio spectrum including some leased from UK-based satellite operator Inmarsat has secured up to $1.75 billion of debt and equity financing from Harbinger and other investors.
Harbinger has allocated $2.9 billion in assets to LightSquared, which mainly consists of radio spectrum for the network, which will be a combination of an orthodox mobile network with a satellite-based phone and data service. GTB