{"id":86025,"date":"2010-10-13T01:40:09","date_gmt":"2010-10-12T17:40:09","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/harbinger-sells-half-of-its-inmarsat-investment\/"},"modified":"2010-10-13T01:40:09","modified_gmt":"2010-10-12T17:40:09","slug":"harbinger-sells-half-of-its-inmarsat-investment","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/harbinger-sells-half-of-its-inmarsat-investment\/","title":{"rendered":"Harbinger Sells Half of its Inmarsat Investment"},"content":{"rendered":"<p><strong>Harbinger Capital Partners <\/strong>has sold a 14.1 percent stake in mobile satellite operator <strong>Inmarsat<\/strong> for about $652 million, the U.S. hedge fund announced.<br \/>\n&nbsp;&nbsp;&nbsp; Harbinger sold 65 million shares in the transaction and still holds  another 14 percent of Inmarsat, which will be subject to a 180-day  lock-up arrangement with <strong>Credit Suisse<\/strong> and <strong>UBS<\/strong>.<br \/>\n&nbsp;&nbsp;&nbsp; \u201cInmarsat has been a terrific investment for Harbinger and its  investors,\u201d Harbinger Founder and Fund Manager Philip Falcone said in a  statement.<br \/>\n&nbsp;&nbsp;&nbsp;&nbsp; Harbinger said its two largest investment funds have invested nearly 40 percent of its assets into LTE network company, <strong>LightSquared<\/strong>, which plans to use <strong>SkyTerra<\/strong>  satellites and terrestrial cell towers to deliver broadband service to  U.S. customers. Harbinger closed an $850 credit facility with UBS Oct. 3  to support its LightSquared investment.<br \/>\n&nbsp;&nbsp;&nbsp;&nbsp; Overall, Harbinger Capital Partners said its flagship fund is down  about 13 percent, with one of its $2 billion funds down more than 18  percent for the year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Harbinger Capital Partners has sold a 14.1 percent stake in mobile satellite operator Inmarsat for about $652 million, the U.S. hedge fund announced. &nbsp;&nbsp;&nbsp; Harbinger sold 65 million shares in the transaction and still holds another 14 percent of Inmarsat, which will be subject to a 180-day lock-up arrangement with Credit Suisse and UBS. &nbsp;&nbsp;&nbsp; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-86025","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86025"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=86025"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/86025\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=86025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=86025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=86025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}