Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Inmarsat shares launched higher after French satellites firm Eutelsat says considering takeover move

In a brief statement, Eutelsat confirmed that it is “currently evaluating a possible offer for Inmarsat" but said there was no certainty an offer would be made
Satellite
Earlier this month, Inmarsat said it had rejected a takeover approach from US-based EchoStar, which has been building a stake in the UK firm

Inmarsat Plc (LON:ISAT) shares rose on Monday after French satellites company Eutelsat revealed that it is considering launching an offer for its UK-listed rival.

In a brief statement, Eutelsat confirmed that it is “currently evaluating a possible offer for Inmarsat" but said there was no certainty an offer would be made.

READ: Mixed opinions on Inmarsat following rejection of EchoStar offer

Earlier this month, Inmarsat rejected a takeover approach from US-based EchoStar Corp (NASDAQ:SATS) which has been building a stake in the UK firm.

The FTSE 250-listed firm said it believed Echostar’s offer “significantly undervalued” the company

In late afternoon trading, Inmarsat shares were 4.7% higher at 634.6p, with the company yet to respond to Eutelsat’s statement.

View full ISAT profile View Profile

Inmarsat Plc Timeline

Related Articles

Cyber-security
August 19 2018
BATM's Networks & Cyber division returned to growth in 2017

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use