(Wikimedia)
Eutelsat Communications has said it does not intend to make a bid for mobile satellite communications operator Inmarsat.
Its statement came only hours after the UK Panel on Takeovers and Mergers requested the Paris-based operator made clears its intentions.
Eutelsat made an initial statement on Monday evening amidst heightened speculation.
Earlier this month it emerged Charlie Ergen’s Echostar had accrued a 3% stake in the London-based company.
Inmarsat said that the bid had seriously under-valued the company that has since seen its market value climb to £2.7 billion.
Echostar has until July 6 to make a firm bid; Eutelsat will have until July 23.
The US firm ViaSat has also been touted as a possible bidder, but it’s thought there could be others.
