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.
Inmarsat, which is worth £2.4 billion, specialises in satellite technology involving mobile phones.
Inmarsat was established as an inter-governmental body in 1979 to provide essential communications for shipping. It was privatised in 1999 and listed in 2005. Inmarsat launches its latest satellite next month from a base in Kazakhstan.
Harbinger owns stakes in SkyTerra and Terrestar, both rival operators, who are also attracted by Inmarsat's potential contribution to the development of a satellite-based mobile phone network in the US.
