EchoStar walks away from Inmarsat after £3.2B rejection

Telecommunications Service Providers | London, UK

US satellite company EchoStar has walked away from a takeover of its peer Inmarsat, after the latter rejected an improved second bid worth £3.2 billion. The move follows a previous proposal last month, when EchoStar also revealed it held a 3% equity stake in the business as well as 10.4% of its convertible bonds.

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