Harbinger Capital is set to offload its entire stake in U.K. satellite operator, Inmarsat, Financial Times reports. The U.S. fund, controlled by Philip Falcone, will sell 64.3 million shares, or a 14% stake in Inmarsat.
Credit Suisse and UBS have been appointed as joint bookrunners for the offering. The hedge fund already sold half of its holdings in the company last October, raising about $650 million in the process, adds The New York Times.
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