Carl Icahn Buys $300 Million of LightSquared Debt
Replying to: He does nothing with stuff! by landmarkcm
Re: He does nothing with stuff!
He will hold about 18% (if I figured right) of LS debt which will probably put him near the first of the line when it goes under.
But, he doesn't do these things without a plan. $300 million isn't chump change and he has something in mind that will make him profits on that outlay.
There is use for the spectrum, it just won't be from terrestrial towers at high power.
That whole idea was pie in the sky and there is too much skullduggery involved in the deal.
You have Falcone investing huge bucks, and he's under suspicion by the SEC for other things.
There are Justice and Congressional investigations as to who and why may have influenced this whole deal.
It just smells of cronyism and influence purchasing.
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