Reports on Thursday surfaced that Sprint will halt investments in LightSquared until the group has obtained FCC approval to move forward with operating its LTE network. During a Citigroup conference, Sprint CEO Dan Hesse said he hoped LightSquared would be able to overcome the issues. Hesse said
“We feel we are protected, We are not investing any more in LightSquared. We have put that all on hold for now.”
Sprint has given LightSquared until the end of January to gain FCC approval before it backs out of the deal.
Source: Electronista
Mickey Papillon
Joey Koppes
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