(Wikimedia)
Britain’s competition watchdog has launched an investigation into the proposed takeover of Inmarsat.
In March the satellite communications operator agreed to take itself private after accepting a $3.4 billion cash bid from a private equity company.
The consortium comprises Apax Partners, Warburg Pincus and Canada Pension Plan Investment Board (CPPIB) and Ontario Teachers’ Pension Plan Board. Apax is a former owner of the UK satellite communications firm. Together the consortium is known as Connect Bidco Limited.
The Competition & Markets Authority is launching the probe to check if the takeover may reduce competition in the market.
Inmarsat had previously rejected a bid from Echostar, which had renewed its interest in the company.
