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7/16, 9:04 AM (Source: TeleTrader)
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UK to probe Inmarsat deal over competition concerns

Inmarsat is facing a probe into its agreement with Apax and Warburg Pincus to take the United Kingdom's largest satellite firm private, the Competition and Markets Authority (CMA) said on Tuesday. The CMA is concerned the deal may decrease the number of satellite companies in the market, thus reducing competition.

In March, Inmarsat agreed on a $3.4 billion acquisition, which amounts to $6 billion including debt.

The satellite telecommunications companies shares were 0.21% in the red as trading started in London on Tuesday.

Breaking the News / VP