Centerbridge in $3.3bn LightSquared bid Private equity firm Centerbridge Partners has bid $3.3bn for LightSquared, the wireless telecoms group which was backed by Philip Falcone's Harbinger Capital, beating a rival offer from Dish Network, the US satellite-television provider controlled by Charlie Ergen. The Centerbridge offer, made just before a bankruptcy court-imposed deadline for bids, tops the Dish offer worth about $2.2bn earlier this year. However, the deal has not been agreed and, according to people familiar with the matter, Dish could return with a higher price. LightSquared filed for bankruptcy protection 18 months ago after the US Federal Communications Commission blocked the company's plans to build a nationwide 4G wireless data network based on LTE technology. The FCC cited concerns that LightSquared's network could interfere with GPS navigation systems including those used on aircraft. Under the terms of the proposed bankruptcy reorganisation plan filed by Centerbridge, holders of $1.7bn of LightSquared debt - who have supported the Dish proposal until now - would be repaid in full with interest. Mr Falcone and his associates have been battling to maintain control of LightSquared, while the company's debt holders have been pushing for an early sale of assets. LightSquared has lobbied the FCC to reconsider its decision to block the use of its spectrum. Last week Reed Hundt, a former FCC chairman representing LightSquared, and John Nakahata, a lawyer representing Centerbridge, met FCC officials. Mr Hundt asked if the FCC would set a date for deciding pending spectrum issues. Tim Farrar, a mobile satellite spectrum industry expert, said he was surprised that Centerbridge wanted to take a risk on the FCC ruling in LightSquared's favour. However, he noted that "if the $3.3bn Centerbridge bid becomes firm, I wouldn't expect Dish to bid even more." He added that a deal with Centerbridge would be good news for Inmarsat, the global satellite operator, because it would be much more likely that LightSquared would continue a co-operation agreement in its current form. All parties involved declined to comment.