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UK to scrutinize takeover of satellite firm Inmarsat

UK to scrutinize takeover of satellite firm Inmarsat

FILE PHOTO: Staff at satellite communications company Inmarsat work in front of a screen showing subscribers using their service throughout the world, at their headquarters in London March 25, 2014. REUTERS/Andrew Winning LONDON (Reuters) – Britain said on Monday it would scrutinize the acquisition of satellite communications firm Inmarsat (ISA.L) by a private equity-led consortium

FILE PHOTO: Staff at satellite communications company Inmarsat work in front of a screen showing subscribers using their service throughout the world, at their headquarters in London March 25, 2014. REUTERS/Andrew Winning

LONDON (Reuters) – Britain said on Monday it would scrutinize the acquisition of satellite communications firm Inmarsat (ISA.L) by a private equity-led consortium to examine any potential impact on national security.

Inmarsat, which provides communications to shipping, aircraft, military forces and other groups worldwide, agreed in March to be acquired for $3.4 billion in cash by a consortium comprising Apax, Warburg Pincus [WP.UL], Canada Pension Plan Investment Board and the Ontario Teachers’ Pension Plan.

The British government said the Competition and Markets Authority would examine the competition and national security aspects of the deal, and would submit a report to the relevant minister by Sept. 17.

Reporting by Paul Sandle; Editing by Alistair Smout



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