Reuters – Billionaire trader Philip Falcone is restructuring his hedge fund’s multibillion-dollar investment in LightSquared to make it easier to make “direct investments” in the upstart wireless telecommunications company.
Falcone announced the restructuring on Friday in an email to his Harbinger Capital Partner investors. The email, which Reuters obtained, said the plan “will facilitate direct investments by existing and prospective investors in the master fund’s holdings in LightSquared and the management of such holdings.”
