Avanti Communications says it has begun talks with a number of potential investors to bring in new funding.
Last week, the satellite data communications company said it was putting itself up for sale.
“The Board is of the view that it should, in parallel to considering an equity raise, conduct a wider strategic review to explore additional opportunities including a corporate transaction such as a merger with or offer for the Group by a third party or a sale of the Group’s businesses,” Avanti said in a statement.
Avanti’s HYLAS satellite fleet provides ubiquitous internet service to a quarter of the world’s population.
The company is now officially in an offer period.