As we have reported previously, Harbinger Capital Partners Fund has ownership intent for Inmarsat. They already hold 28 percent ownership of that company. Harbinger also holds 48 percent of Mobile Satellite Ventures (MSV), a subsidiary of SkyTerra Communications. So, wouldn’t it make a great deal of sense to take on Inmarsat and then blend vigorously with SkyTerra? With such an integration of satellite and terrestrial communications, the reach would extend over most of North America. With $500 million in funding to support the business plan of SkyTerra and MSV through 2010, there is also an agreement between Harbinger affiliates and SkyTerra/MSV regarding an Inmarsat blending of operations. However, let us not forget that just a few days ago, Inmarsat called off their discussions with Harbinger about an all-out acquisition by that firm. Inmarsat has stated they remain confident in their firm’s standalone prospects and will carefully consider any offers that maximize shareholders value, following regulatory review, of course. The Harbinger funding of SkyTerra/MSV should carry everyone through the launch of MSV-1 up to MSV-2. There’s one guarantee—this isn’t the end of this story!
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