Author: Jane Edwards|| Date Published: March 2, 2023
The U.K. government has provisionally cleared the planned merger between Viasat (Nasdaq: VSAT) and British satellite services provider Inmarsat following the completion of a Phase 2 review, which found that the combined entity is likely to face competition from existing and emerging companies as the satellite communications sector expands.
In November 2021, Viasat agreed to acquire Inmarsat in a cash-and-stock transaction valued at approximately $3.9 billion as part of efforts to provide a global hybrid network for government and enterprise communications.
The U.K. Competition and Markets Authority mentioned Starlink from SpaceX, Panasonic and Intelsat as some of the industry players that are likely to compete with the merged company.
Interested stakeholders seeking to comment on CMA’s provisional findings have until March 21 to submit their responses.
The agency will consider feedback gathered from interested parties to inform its final report on the deal, which is expected to be released by March 30.
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