An investment firm unveiled an ambitious plan today to build a high-speed wireless broadband network that would cover more than 90 per cent of the United States by 2015.

New York-based Harbinger Capital Partners said it has signed a USD seven billion agreement with Finnish-German giant Nokia Siemens Networks to "deploy, install, operate, and maintain" a broadband network called "LightSquared."

LightSquared said its satellite and mobile broadband network would offer broadband capacity to wireless providers, retailers, cable operators, device maker, content providers and other businesses.

"The nationwide LightSquared network, consisting of approximately 40,000 cellular base stations, will cover 92 percent of the US population by 2015," LightSquared said in a statement.

"In addition, from commercial launch it will offer the entire nation coverage through its satellite," it said.

"By using satellite coverage, we can ensure constant connectivity, even if the terrestrial network is not available," said Sanjiv Ahuja, the former chief executive of France's Orange who was named chairman and CEO of the new venture.