LightSquared edges closer to bankruptcy filing: sources

Philip Falcone's telecom start-up LightSquared edged closer to a bankruptcy filing on Sunday as the hedge fund manager was far from an agreement with creditors, sources familiar with the matter said. Falcone ...

(Reuters) - LightSquared Inc , the startup telecommunications company bankrolled by hedge fund manager Philip Falcone, is expected to file for bankruptcy protection in the next hours, sources familiar with the matter said. Falcone has until Monday at 5 p.m. EDT (2100 GMT) to reach an agreement or face a default on a $1.6 billion loan, sources said. While the parties still have a few hours left to negotiate, the sources suggested that a last minute deal is highly unlikely and that the filing is imminent. A representative for Falcone was not available for comment. ...

NEW YORK (Reuters) - Billionaire i

NEW YORK (Reuters) - Billionaire investor Carl Icahn has sold his $250 million debt holdings in Philip Falcone's telecom start-up LightSquared , while Falcone continues to negotiate with creditors to avoid a debt default, according to sources familiar with the matter.

NEW YORK (Reuters) - 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.

Billionaire investor Carl Icahn has sold his $250 million debt holdings in Philip Falcone's telecom start-up LightSquared , while Falcone continues to negotiate with creditors to avoid a debt default, ...