PE-Backed LighSquared In $9B Deal with Spring Nextel

LightSquared, a Harbinger Capital-backed telecommunications start-up, will pay Spint Nextel $9 billion over the next 11 years to build a high-speed wireless network that LightSquared will use to sell wholesale services, Reuters reported. Also under the agreement, Sprint has the option to buy up to half of LightSquared's network capacity, Reuters said.

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