Inmarsat could be next takeover target for SoftBank - speculative reports
02 JUN 2017
Inmarsat [LSE:ISAT], a UK-based satellite operator, could attract a takeover bid from the Japanese technology company SoftBank [TYO:9984], according to a speculative report in The Times. The newspaper’s market report section did not cite a source for the speculation but said news before the London market opened on Thursday, 1 June that Softbank was abandoning its proposed USD 14bn (EUR 12.47bn) merger of its satellite subsidiary Oneweb and rival Intelsat prompted talk of consolidation elsewhere in the sector.
Some City analysts speculate that SoftBank founder and CEO Masayoshi Son might turn his attentions Inmarsat, the item continued.
Shares in rival satellite groups SES [EPA:SESG] and Eutelsat [EPA:ETL] also gained on consolidation speculation, the report said.
Talk that SoftBank might make a move on Inmarsat was also reported in The Daily Mail’s market report section, which did not cite a source.
The Financial Times’ market report section also mentioned speculation that Inmarsat might attract a takeover bid, but did not specify from which company.
Inmarsat’s share price closed 44.5p up at 844.5p, giving the company a market capitalisation of GBP 3.85bn (EUR 4.42bn).
Link to original source (The Times)
The Daily Mail report appeared on page 72 of the print edition of the newspaper on Friday, 2 June.