Edition:
United Kingdom

Competition watchdog extends review on Inmarsat PLC takeover


Tuesday, 13 Aug 2019 

Aug 13 (Reuters) - :ANTICIPATED ACQUISITION BY CONNECT BIDCO LIMITED OF INMARSAT PLC.ON 15 JULY 2019 COMPETITION AND MARKETS AUTHORITY (CMA) GAVE NOTICE THAT INITIAL PERIOD IN RELATION TO ANTICIPATED ACQUISITION BY CONNECT BIDCO LIMITED OF INMARSAT PLC HAD COMMENCED.ON 23 JULY 2019 SECRETARY OF STATE FOR DIGITAL, CULTURE, MEDIA & SPORT ISSUED A PUBLIC INTEREST INTERVENTION NOTICE (PIIN) ON PUBLIC INTEREST GROUND OF NATIONAL SECURITY.COMPETITION AND MARKETS AUTHORITY (CMA) IS REQUIRED TO SUBMIT A REPORT TO SECRETARY OF STATE ON THIS TRANSACTION BY 17 SEPTEMBER 2019.ACCORDINGLY, IN ORDER TO COMPLY WITH DEADLINE IMPOSED BY SECRETARY OF STATE, CMA HAS DECIDED TO EXTEND INITIAL PERIOD FOR 20 WORKING DAYS.STATUTORY 40 WORKING DAY DEADLINE FOR A DECISION, AS EXTENDED PURSUANT TO THIS NOTICE, IS 8 OCTOBER 2019..