Court Approves Inmarsat Acquisition
By Staff Writer | December 17, 2003
London-based mobile satellite operator Inmarsat confirmed Wednesday that it had received court approval for the company’s acquisition by funds advised by Apax Partners and Permira. Shareholder approval was obtained earlier this month.
The sale is expected to be completed on Dec. 30.
Andrew Sukawaty, currently chairman of Telenet and deputy chairman of mmo2, will become non-executive chairman of the new Inmarsat Group. He will work with Inmarsat CEO Michael Storey to continue with plans to launch the Inmarsat-4 satellites and the next generation of high-speed data and voice services – the broadband global area network (BGAN) service.