Japan’s second largest wireless carrier KDDI Corporation, has sold off its entire 4.85% stake in the satellite communications company Inmarsat following an accelerated book-building organised by Nomura International. The price of GBP8.40 (USD12.98) per share priced the total deal at approximately GBP183 million (USD283 million) for the sale of its 21.74 million Inmarsat shares. Fixed and mobile operator KDDI, which originally purchased a 7.5% stake in the satellite company before its initial public offering (IPO), has seen its equity diluted, but held on to the shares – until now.
The Inmarsat service uses the Inmarsat geostationary satellite to effect communications between the satellite firm’s equipment and telephones, telex, data terminals, and the internet. There are nine primary Inmarsat systems, namely: INMARSAT BGAN, INMARSAT FB, INMARSAT B, INMARSAT Fleet, INMARSAT M, INMARSAT Mini M, INMARSAT M4, INMARSAT C and INMARSAT Aero.