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Harbinger knocks Dish’s bid for LightSquared’s spectrum

04
Jan
2014

By Nick Brown NEW YORK (Reuters) – Phil Falcones Harbinger Capital Partners, which controls bankrupt satellite company LightSquared, has asked a judge to reject a takeover effort by Dish Network Corp, saying its $2.2 billion bid for a chunk of LightSquareds spectrum is a Trojan horse. In a court filing on Thursday, Harbinger said the bid undervalues LightSquareds assets, laying out its opposition to the takeover ahead of a hearing scheduled for next Thursday in the U.S. Bankruptcy Court in Manhattan. In a separate filing, LightSquared itself also called for the rejection of the Dish plan, calling it a short-sighted liquidation that benefits only its proponents. The filings are the latest salvoes in a fierce battle for LightSquareds wireless spectrum.

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