Sky's Ian King says the latest approach for satellite operator Inmarsat could result in the company being de-listed.
It's a wonder that the management at Inmarsat ever have any time to focus on their day job.
It briefly flushed out interest from Eutelsat, the French satellite operator, but that too came to nothing.Inmarsat owns and operates 13 satellites which offer services including broadband and safety systems for the aviation and shipping sectors That share price movement gives an indication that shareholders are not getting too excited just now.
The profitability of that division, which still generates half of Inmarsat's earnings, was also eroded by a downturn in global shipping activity. The Echostar approach followed and, although it was rebuffed, Echostar has gone on to build a 3% stake in Inmarsat, making it the company's 11th-biggest shareholder, while also snapping up some of its bonds. It will be watching with interest here.
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