Phil Falcone's Bold Telecom Bet
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi08Ck-oQAtJg3kJXwMx_FQlbjKuhXxIAZIFTyAPkyxo2E8NarowW8I_TWNUKsFAyx-zXYab4okTboyJtstORvYvFnRfwWpftCFY_ut_wyFBkZlXrBoBrhNU4oeqj53w2HfJ5izg7nlUk8t/s400/Harbinger+Capital+Partners+logo+-+logonLogo.gif)
I haven't talked him in a long time but even I am surprised by the boldness of it all. Phil Falcone, the contrarian investor whom I had likened to Wilbur Ross , is turning into someone else. In bold move that could make or break his reputation, Phil Falcone is betting as much as 40% of his partners' funds in LightSquared, a company trying to provide 4G wireless communications throughout America. The goal is to provide wholesale wireless services through a network of terrestial towers and orbiting satellites. Reuters has a lengthy story on Phil Falcone : Harbinger's two main investment funds are the owners of LightSquared, an upstart Reston, Virginia-based telecom company that plans to use two orbiting satellites to bring high-speed Internet service to some 260 million in the U.S. by 2015. Roughly $3 billion or 40 percent of Harbinger's assets are tied-up in LightSquared, say people familiar with the funds. Formerly known as SkyTerra Communications, the telecom co...