Billionaire hedge fund manager Philip Falcone's LightSquared Inc on Tuesday named telecommunications veteran Marc Montagner as chief financial officer, replacing Michael Montemarano.
LightSquared is trying to position itself as a low-cost alternative to the big wireless operators like Verizon Communications Inc
Montagner, who has nearly 25 years of experience, had worked with France Telecom
He was responsible for mergers and acquisitions at Sprint and supervised the merger between Sprint and Nextel.
On Monday, Sprint Nextel extended a December 31 deadline for LightSquared, with which it may share infrastructure, to get a regulatory clearance for operating a planned telecommunications network.
(Reporting by Supantha Mukherjee in Bangalore; Editing by Supriya Kurane)