Last month, we reviewed the preliminary "Master Contribution and Support" agreement by hedge fund Harbinger Capital Partners, which has invested broadly in the mobile satellite service (MSS) sector to acquire leading MSS operator Inmarsat. Harbinger already has a 28.8 percent stake in Inmarsat through portfolio company SkyTerra, the parent of MSS operator Mobile Satellite Ventures (MSV), and Harbinger also has provided financing to SkyTerra and MSV. We also started an examination of the likely dynamics of hedge fund entry into MSS, which superficially resembles the private equity buyout firms' entry into fixed satellite service (FSS) in the 2003-2004 period.
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机译：上个月，我们审查了对冲基金Harbinger Capital Partners的初步“主要贡献和支持”协议，该协议已在移动卫星服务（MSS）领域进行了广泛投资，以收购领先的MSS运营商Inmarsat。先驱已经通过MSS运营商Mobile Satellite Ventures（MSV）的母公司投资组合公司SkyTerra拥有Inmarsat的28.8％的股份，并且先驱还向SkyTerra和MSV提供了融资。我们还开始研究了对冲基金进入MSS的可能动态，从表面上看，这类似于私募股权收购公司在2003-2004年期间进入固定卫星服务（FSS）。
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