BREAKING NEWS

UK clears acquisition of satellite company Inmarsat

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LONDON (Reuters) – The British government on Tuesday cleared the acquisition of satellite communications company Inmarsat <ISA.L> by a private equity consortium after it accepted undertakings given by the acquirer relating to national security.

The consortium of UK-based Apax partners, US-based Warburg Pincus and two Canadian pension funds agreed to buy the provider of satellite communications to shipping, aircraft and governments for $3.4 billion (£2.64 billion) in March.

The government said the undertakings provided assurance that sensitive information was protected and that enhanced security controls were in place to ensure the continued supply of key services used by the Ministry of Defence.

(Reporting by Paul Sandle; editing by Stephen Addison)

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