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Inmarsat receives a bid approach from American investor
08/07/2008
Inmarsat, the UK-listed satellite communications provider has received a takeover offer from Harbinger Capital, the activist American hedge fund investor.There is no certainty that a formal bid will be made soon, as Harbinger believes that obtaining regulatory approval from the Federal Communications Commission could take up to 18 months.Harbinger has a 29.9 per cent stake in Inmarsat, and is thought likely to approach the American industry watchdog now that its intention has been made public.
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