Eutelsat: finally will not bid for Inmarsat

(CercleFinance.com) - Shortly before 8 pm last night, and in response to press reports, Eutelsat confirmed that it was examining the possibility of making a takeover bid on Inmarsat's shares.


Now the French satellite operator seems to have changed its mind, announcing that it does not intend to make a bid for Inmarsat's shares, the group said this morning.

On the stockmarket today, the Eutelsat share jumped by nearly 3% this morning, while in London, the Inmarsat share crumbled over 8%, with Inmarsat this morning taking note of Eutelsat's statement of intent.

Remember that on 8 June the British group Inmarsat refused an offer filed by its American competitor EchoStar, deeming it as "undervalued".

EchoStar confirmed its approach, without quantifying it, and subsequently revealed that it held 2.97% of Inmarsat's capital.


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