Harbinger Capital Partners Announces Partnership with Sanjiv Ahuja, Names Him Chairman and CEO of its New Wireless Broadband Venture

April 28, 2010

NEW YORK, April 28 /PRNewswire/ — Harbinger Capital Partners today announces a partnership with telecommunications visionary Sanjiv Ahuja and announces his selection as Chairman and Chief Executive Officer of its new nationwide 4G-LTE wireless broadband company.

The new company, in addition to controlling access to 13 Mhz of terrestrial spectrum, has a controlling interest in SkyTerra Communications, Inc., an L Band (MSS) company. The new company will build the first LTE network to combine a terrestrial wireless broadband network with next generation satellite technology to provide nationwide wireless broadband connectivity. The company’s wholesale-only business model will enable unprecedented new, competitive business opportunities in the wireless broadband market while spurring the development of countless new wireless devices, applications and services.

“This new company will unleash the boundless opportunity of high-speed wireless broadband connectivity for all,” said Ahuja. “It’s an honor to lead a company that I believe will transform the broadband industry by generating innovation, creativity and freedom of choice.”

Ahuja, 53, brings a successful track record to the new company and will lead the development and deployment of the network’s nationwide rollout. Ahuja was chief executive officer of Orange from 2004 through 2007, during which time he served as a member of the board of Orange SA and of France Telecom’s Group Management Committee. During his leadership, the Orange customer base grew from 48 million to more than 100 million subscribers globally.

In 2007, Ahuja founded Augere, a company delivering affordable wireless broadband to underserved customers in developing markets such as Bangladesh and Pakistan. He is also the founder and chairman of Eaton Telecom, a telecommunications infrastructure company with a presence in 12 African countries.

“It was critical to find someone with the right management skills to build a great team, as well as someone with the operational expertise and technical knowledge to deliver on our vision,” said Philip A. Falcone, founder and Chief Executive Officer of Harbinger Capital Partners. “Sanjiv is a proven leader and experienced executive, and we’re privileged to have him leading the company.”

Ahuja will be based in New York City.

About Harbinger Capital Partners

Harbinger Capital Partners was founded in 2001. Harbinger is led by its Chief Investment Officer, Chief Executive Officer and Senior Managing Director, Philip A. Falcone, who has over 20 years of investment experience across an array of market cycles. The Harbinger Team is disciplined and value oriented, focusing on alpha generating ideas that are uncorrelated to investment cycles. The firm combines a flexible, innovative approach to uncovering opportunity with a thorough investment process. Each investment undergoes rigorous fundamental research, extensive vetting, and seeks an identifiable catalyst for value realization. Harbinger regards risk monitoring as a critical component of the investment process and actively monitors risk at three levels: portfolio, position and operations. The Harbinger Team offers several strategies which emphasize different opportunities, each based on the same time-tested fundamental investment and due diligence processes.

SOURCE Harbinger Capital Partners

Source: newswire

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