Why Did Providence Hire Michael Powell?

I've been thinking about why Providence Equity Partners just recruited former Federal Communications Commission (FCC) Chairman Michael Powell. Perhaps Providence is readying a major move. My theory: It could try to acquire T-Mobile USA.
Olga Kharif

I've been thinking about why Providence Equity Partners just recruited former Federal Communications Commission (FCC) Chairman Michael Powell. Providence, which manages $9 billion in assets, is high-profile as it is, having invested into T-Mobile USA and Nextel, now part of Sprint. It doesn't need the extra pr.

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