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LightSquared: Falcone may step down as ‘public face’ of wireless-telecom company, report says

Philip Falcone, the chief executive of principal LightSquared investor Harbinger Capital, may step down as the public face of the company, according to a report from the Wall Street Journal. Unnamed “people familiar with the negotiations” told the newspaper that Falcone’s agreement with the company’s board may convince LightSquared’s lenders to approve an extension of a debt-term violations waiver, which is set to expire on Monday morning.
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