NEW YORK May 6 Billionaire investor Carl Icahn
has sold his $250 million debt holdings in Philip Falcone's
telecom start-up LightSquared, sources familiar with
the matter said on Sunday.
Icahn sold the debt on Thursday for about 60 cents on the
dollar, compared with the roughly 40 cents on the dollar price
that he paid for the debt just months before, according to the
sources who asked not to be named.
The sale comes as Harbinger Capital Partners, which owns
roughly 96 percent of LightSquared, has been negotiating with
its creditors to avoid a default on $1.6 billion in debt.
(Reporting By Sinead Carew and Matthew Goldstein; Editing by