LightSquared’s Proposed Auction Format Is Improper, Lenders Say

LightSquared Inc.’s proposed auction format for a sale of its wireless spectrum assets is improper and could foil a $2.22 billion offer from a unit of Charlie Ergen’s Dish Network Corp. (DISH), a group of lenders said.

To contact the reporter on this story: Tiffany Kary in New York at tkary@bloomberg.net

To contact the editor responsible for this story: Andrew Dunn at adunn8@bloomberg.net

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