Billionaire investor Carl Icahn and hedge-fund honcho Phil Falcone are headed for a showdown over the fate of wireless start-up LightSquared, The NY Post has learned.
Falcone, who has funneled a whopping $2.9 billion into LightSquared, is desperate to salvage his shaky investment amid a battle with federal regulators over building out the wireless network. Falcone has said both publicly and privately that bankruptcy is not an option.
However, some LightSquared creditors, including Icahn, would rather put the company into bankruptcy as part of a plan that would give them equity stakes in the company and greater control over its future, sources said. The deadline for creditors to decide is fast approaching….
Read all about it at http://www.nypost.com/p/news/business/ready_for_rumble_7fDZNyvHcga2vCWh4ZbJlM#ixzz1r3WpL4hK
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