Times Online- Philip Falcone is used to demanding change from underperforming company executives, but yesterday he took Harbinger Capital, his activist hedge fund, into new territory.
Complete with financial advisers and a big stake, Harbinger broke cover as a traditional prospective buyer of strategic assets, with a tentative approach to Inmarsat, the London-listed satellite operator.
Harbinger has a 29.9 per cent holding in Inmarsat, as well as stakes in several other satellite companies, including America’s SkyTerra and Terrestar.
Mr Falcone, a former Barclays Capital trader, appears to be intent on acting as an industry consolidator, a role more commonly played by trade buyers or private equity funds.
