European Commission Approves Viasat - Inmarsat Deal

(RTTNews) - Viasat Inc. (VSAT), a global communications company, said that the European Commission unconditionally approved its acquisition of Inmarsat, a provider of global mobile satellite communications services.

The approval follows the recent U.K. Competition & Markets Authority's clearance on May 9, 2023, and that of the U.S. Federal Communications Commission on May 19, 2023.

The two companies will now work to expedite completion of the transaction, which is expected to close by the end of this month.

In 2021, Viasat had agreed to acquire Inmarsat in a deal valued at $7.3 billion. This comprises $850 million in cash, around 46.36 million shares of Viasat shares valued at $3.1 billion, and $3.4 billion of debt.