21st Jul 2008 07:00
21 July 2008
Inmarsat plc ("Inmarsat" or the "Company")UPDATE RE: PRELIMINARY APPROACH
Further to Inmarsat's announcement of 7 July 2008, Inmarsat confirms that discussions with Harbinger Capital Partners ("Harbinger") in regard to a possible offer for Inmarsat have ended.
Discussions with Harbinger and its advisers focused principally on the regulatory processes relating to a possible offer. Harbinger has neither made an offer for the Company nor indicated a potential offer price, and the Board of Inmarsat has therefore concluded that there is no merit in continuing discussions at this time.
The Board remains focused on delivering value to shareholders as a whole and open to any future proposals or cooperation with Harbinger, which will continue to be evaluated in this context.
Enquiries:
Chris McLaughlin: Inmarsat plc: 07796 276033
Charles Harman: JPMorgan Cazenove Limited: 020 7580 2828
Philip Yates: Perella Weinberg Partners UK LLP: 020 7268 2800
JPMorgan Cazenove Limited ("JPMorgan Cazenove") and Perella Weinberg Partners UK LLP ("Perella Weinberg Partners"), which are authorised and regulated in the United Kingdom by the Financial Services Authority, are acting for Inmarsat and no-one else in connection with the matters referred to herein and will not be responsible to anyone other than Inmarsat for providing the protections afforded to clients of JPMorgan Cazenove and Perella Weinberg Partners or for giving advice in relation to such matters.
Related Shares:
Inmarsat