Company News

UK to scrutinise takeover of satellite firm Inmarsat

LONDON, July 22 (Reuters) - Britain said on Monday it would scrutinise the acquisition of satellite communications firm Inmarsat 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, 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