Eutelsat says it’s weighing a bid for Inmarsat
WASHINGTON — Paris-based satellite fleet operator Eutelsat confirmed June 25 that it is considering making an offer to aquire Inmarsat.
Eutelsat’s disclosure comes less than three weeks after London-based Inmarsat rejected an unsolicited acquisition offer from EchoStar. On June 8, Inmarsat said EchoStar’s offer, which neither company quantified, “very significantly undervalued Inmarsat and its standalone prospects.”
“Eutelsat Communications S.A. (“Eutelsat”) notes the recent speculation and confirms that it is currently evaluating a possible offer for Inmarsat,” Eutelsat said in statement. “There can be no certainty any offer will be made, nor as to the terms of any offer.”
Eutelsat said it is required by law to announce by July 23 whether it intends to make an offer for Inmarsat.