CMA to investigate Inmarsat takeover

The Competition and Markets Authority said on Tuesday that it will investigate Inmarsat's takeover by a consortium led by private equity firms Apax and Warburg Pincus.

The competition watchdog said it will assess whether the deal will result in "a substantial lessening of competition" and is inviting comments on the transaction from any interested party by 29 July.

Satellite communications company Inmarsat agreed back in March to be bought by the consortium, which includes the Canada Pension Plan Investment Board and the Ontario Teachers' Pension Plan Board, for $3.4bn.

At 0920 BST, the shares were down 0.1% at 559.40p.