London-based satellite operator Inmarsat, in a formal Stock Exchange notice, says it has noted the recent press speculation regarding the position of Avanti Communications.  Inmarsat says that it was contacted by Avanti’s advisors following the Avanti “strategic review” (and profits warning) and formal sale process, and responded to that contact.

“Inmarsat confirms it has withdrawn from Avanti’s announced process and it is not considering an offer for the shares of Avanti,” said the statement.

However, Inmarsat declined to confirm whether it had also withdrawn from discussions on Avanti’s orbiting assets which include satellites and ground equipment, as well as orbital positions. The current debt obligations carried by Avanti might preclude those specific assets coming onto the open market unless the Bond holders sell them off in the event of Administration/Liquidation.

Other posts by :

1. India’s Ananth Tech challenges Musk, Bezos et al
2. Macron urges UK to commit to space investment
3. Bank upgrades AST SpaceMobile
4. Could Amazon buy into AST SpaceMobile?
5. Orbex in trouble?
6. Musk planning investment in South Africa
7. France backs OneWeb
8. Bank: SES target price of €9.60
9. Bank give $55 target to AST SpaceMobile

Categories: Articles, Business, M&A