Private equity orbits Inmarsat.
Investors Chronicle - magazine and web content, March, 2008
IC BIDWATCH: Satellite operator sees stakebuilding, plus Melrose's latest offer for FKI and more in property, insurance and mining. Tim Bradshaw
Inmarsat's shares got excited with bid rumours before a disappointing set of results dampened things down again. US hedge fund Harbinger Capital holds a 28 per cent stake in the satellite operator; takeover rules mean it would need to make a formal offer if it increased its holding much further. Lehman Brothers (or one of its clients) also increased their stake this week to 12 per cent, but the same institution then led Thursday's share price dive by downgrading to hold.
Harbinger owns stakes in other satellite operators, suggesting it may try to roll up the sector. But Inmarsat chief executive Andrew...
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