(Wikimedia)
Outgoing culture secretary Nicky Morgan has waived through the private equity takeover of British satellite communications firm Inmarsat.
Ms Morgan said she had accepted remedies put forward by the Connect Bidco consortium.
In March the satellite communications operator agreed to take itself private after accepting a $3.4 billion cash bid from a private equity company.
Connect Bidco 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.
Their bid had initially attracted attention from both regulators and government.
However, in September the Competition and Markets Authority said there was no risk of a substantial lessening of competition.
