Deadline for Inmarsat sale postponed

3 Feb 2003

The sale of satellite operator Inmarsat has been postponed to enable private equity bidders – a consortium comprising Apax Partners and Permira, and Apollo to complete due diligence proceedings. Apax and Permira are expected to submit an offer which will value Inmarsat at USD1 billion, although it is not yet known whether Apollo’s tender will be indicative or final. 10 February has been set as the new deadline for bids.