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DENVER (Denver Post)--Philip Falcone, the billionaire who runs hedge fund firm Harbinger Capital Management, plans to outfit Denver with a blazing-fast 4G wireless network expected to launch in the second half of 2011, the Denver Post reports Wednesday. Nokia Siemens Networks will build and maintain the network under an eight-year, $7 billion deal. Other markets in the initial rollout are Las Vegas, Phoenix and Baltimore. Falcone's newly formed company, LightSquared, will operate the network as a wholesaler, selling access to carriers, cable TV operators and other firms that either may not have their own 4G network or need additional capacity. "We're in very advanced negotiations with over 30 potential partners," LightSquared spokesman Tom Surface said Tuesday. LightSquared's network will use both ground and satellite services and could give consumers more options for 4G wireless offerings. Potential partners include T-Mobile, Cricket Wireless and Virgin Mobile. There are two primary 4G wireless technologies -- WiMax and Long Term Evolution, or LTE. LightSquared, AT&T and Verizon Wireless will implement LTE, while Sprint is using WiMax. In general, 4G networks can offer speeds that are about 10 times faster than existing 3G service. Sprint operates the nation's only active 4G network, though the service isn't yet available in Denver. The company has said Sprint 4G will launch in the Denver area this year, but a spokesman couldn't provide specifics Tuesday. Verizon, the No. 1 wireless provider in the U.S., plans to launch 4G service in about 30 markets by year's end. The company hasn't disclosed the markets. "By the end of 2013 is when we will have our entire 3G footprint overlaid with 4G," Verizon Wireless spokesman Bob Kelley said. AT&T Inc. (T) plans to test 4G this year and deploy the service in 2011. The company is also investing in faster 3G service. One advantage of deploying faster 3G service -- rather than move to 4G outright -- is the availability of handsets that can use the technology. Even though Sprint's 4G network is active, only one handset, the HTC Evo, can currently take advantage of the faster speeds. Sprint also offers a USB modem and a mobile hotspot device that are 4G-capable. Newspaper website: www.denverpost.com -Dow Jones Newswires; 212-416-2900 (END) Dow Jones Newswires July 28, 2010 14:08 ET (18:08 GMT)