Sprint gives LightSquared 30 more days to get FCC nod
(Reuters) - Sprint Nextel Corp extended a December 31 deadline for LightSquared Inc, with which it may share infrastructure, to get a regulatory clearance for operating a planned telecommunications network.
"We agreed to extend the deadline for 30 days," a Sprint spokesperson told Reuters by email.
The agreement between the two companies for sharing network infrastructure is subject to LightSquared obtaining approval from the United States Federal Communications Commission regarding some interference issues.
In July, LightSquared, bankrolled by billionaire Philip Falcone, agreed to pay Sprint $9 billion over 11 years to build a high-speed wireless network that the telecommunications startup will use to sell wholesale services.
But before it can build its network, LightSquared has to prove to regulators that it can eliminate interference problems with satellite services used in everything from airline navigation to agriculture and construction.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Joyjeet Das)