10th Dec 2007 14:15
Inmarsat PLC10 December 2007 Inmarsat announces FCC approval for CIP acquisition of Stratos London, UK: 10 December 2007. Inmarsat plc (LSE: ISAT), the leading provider ofglobal mobile satellite communications services, today announced that StratosGlobal Corporation ("Stratos") has received the final regulatory approval fromthe US Federal Communications Commission ("the FCC") which will allow CIP CanadaInvestment Inc ("CIP") to proceed with its previously announced plan to acquirethe issued share capital of Stratos. The FCC has issued its order approving the transfer of control of licenses fromStratos to an irrevocable trust for which CIP is the sole beneficiary. InmarsatFinance III Limited, a wholly owned subsidiary of Inmarsat plc, has agreed toprovide the necessary funding, indirectly, to CIP for its acquisition ofStratos. CIP expects to complete the acquisition of Stratos' share capitalwithin the next few days. - ends - Forward-looking Statements Certain statements in this announcement constitute "forward-looking statements"within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.These forward-looking statements involve risks, uncertainties and other factorsthat may cause our actual results, performance or achievements, or industryresults, to be materially different from those projected in the forward-lookingstatements. These factors include: general economic and business conditions;changes in technology; timing or delay in signing, commencement, implementationand performance of programmes, or the delivery of products or services underthem; structural change in the satellite industry; relationships with customers;competition; and ability to attract personnel. You are cautioned not to rely onthese forward-looking statements, which speak only as of the date of thisannouncement. We undertake no obligation to update or revise any forward-lookingstatement to reflect any change in our expectations or any change in events,conditions or circumstances. Contact:Inmarsat, London, UK Investor Enquiries Media EnquiriesSimon Ailes, +44 20 7728 1518 [email protected] Christopher McLaughlin, +44 20 7728 [email protected] This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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