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Inmarsat reports decline in earnings in first quarter
Posted: Sat, May 4, 2019, 11:01 AM ET (1501 GMT)
Inmarsat's profit fell ahead of a vote by shareholders next week on takeover bid. The company reported this week that earnings fell by 13 percent in the first quarter. The company said weak demand from its maritime business along with a lower contribution from Ligado led to the lower earnings. Shareholders are set to vote May 10 on a takeover bid by Apax Partners, Warburg Pincus and two Canadian pension funds that values the company at $3.4 billion.
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