Harbinger shelves takeover talks with Inmarsat
Shares in Inmarsat plunged yesterday on news that the hedge fund group Harbinger Capital had put plans to buy the UK satellite group on ice.
US alternative asset manager Harbinger released a statement yesterday saying it had suspended talks because the regulatory process could take up to 18 months to win approval for a deal.
It added that it “remains interested in acquiring control of Inmarsat and is therefore actively considering whether to pursue the relevant regulatory and competition approvals in order to be able to make an offer for Inmarsat in the future”.
Inmarsat confirmed talks had ended, sending its shares down almost 9 per cent to 466.5p.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies