The UK is set to approve the private equity buyout of satellite company Inmarsat, after officials said Wednesday, October 9, the US$3.4 billion transaction does not appear to present competition or national security concerns, Bloomberg reported
Commitments made by the buyers, which included a pledge to keep the company in the UK for several years and continue with research and development in Britain, were enough to avoid a deeper investigation into the deal, the Department for Digital, Culture, Media and Sport announced Wednesday.
Separately, the Competition and Markets Authority said in a statement the purchase need not “be expected to result in a substantial lessening of competition within a market or markets in the U.K. for goods or services.
The buyout group—which includes Apax Partners, Warburg Pincus, Canada Pension Plan Investment Board, and Ontario Teachers’ Pension Plan—is acquiring Inmarsat via Connect Bidco Ltd, a joint-venture company owned in equal shares. Apax was part of a consortium of investors that bought Inmarsat in 2003 and took it public two years later.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DirecTV and Disney Resolve Dispute, Restore Programming for Subscribers
Sep 15, 2024 by
CPI
UK Antitrust Authority Raises Concerns Over Vodafone-Three Merger
Sep 15, 2024 by
CPI
Brazilian Supreme Court Lifts Freeze on Starlink Accounts, Transfers $3.3 Million to National Treasury
Sep 15, 2024 by
CPI
Steptoe Expands Antitrust Practice with Key London Hire
Sep 15, 2024 by
CPI
Instant Ad Auctions at the Heart of Google’s Federal Monopoly Case
Sep 15, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández