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Satellite operator Echostar builds stake in bid target Inmarsat

Satellite operator Echostar builds stake in bid target Inmarsat

Satellite operator Echostar builds stake in bid target Inmarsat
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By Reuters Jun 22, 2018 5:18:10 PM IST (Published)

US satellite operator Echostar has built a near 3 percent stake in Inmarsat, the British company that it is seeking to buy, stock exchange filings showed on Friday.

US satellite operator Echostar has built a near 3 percent stake in Inmarsat, the British company that it is seeking to buy, stock exchange filings showed on Friday.

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Inmarsat shares rose more than 8 percent after Echostar disclosed a 2.97 percent shareholding in the London-listed group. It comes after Inmarsat said earlier this month that it had rejected a bid approach from the US firm.
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