Sprint strikes USD9bn deal with LightSquared for 4G network

Fri Jul 29 2011, 11:16 AM

Wireless carrier Sprint has struck a USD9bn deal with LightSquared to forge a 4G LTE network in an agreement that will last 15 years and comes at a good time for Sprint, which is reporting a USD847m loss in Q2. LightSquared, which has raised USD2.3bn over the past 12 months, has come under fire for its 4G LTE technology in recent weeks after reports of GPS software interference and may still face opposition from FFC regulators.  

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