Teligent assets get cheaper
Teligent and the would-be buyer of its network assets have renegotiated the terms of their deal, slicing another 37% off of the purchase price, according to media sources.
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Teligent Acquisition Corp., a dummy corporation headed by Teligent COO Jim Continenza, has agreed to pay $72.5 million for Teligent’s core business and fixed-wireless network assets after making a $115 million offer in August.
Teligent is mired in Chapter 11 bankruptcy and is in the process of liquidating its assets. The court will rule on the final price on Oct. 30.
--Kevin Fitchard, staff writer
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© 2012 Penton Media Inc.
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