July 16, 2019 / 6:38 AM / 4 months ago

British watchdog to review Inmarsat's sale to private equity consortium

LONDON, July 16 (Reuters) - The Competition and Markets Authority (CMA) said on Tuesday it was looking whether the proposed acquisition of British satellite company Inmarsat by a private equity-led consortium would affect the competitive landscape.

The watchdog invited interested parties to come forward with their comments by July 29.

Earlier this year Inmarsat was approached by a consortium which includes British-based Apax Partners, U.S.-based Warburg Pincus and the Canada Pension Plan Investment Board (CPPIB) with a cash bid valuing the business at $3.3 billion.

The company has previously drawn interest from U.S. satellite group EchoStar Corp, which walked away from discussions last year after its bid was turned down.

Britain’s competition regulator has recently blocked merger attempts by supermarket chains Sainsbury and Walmart’s Asda. (Reporting by Pamela Barbaglia, editing by Louise Heavens)

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