UK Competition and Markets Authority provisionally clears Viasat’s acquisition of Inmarsat following in-depth review
“We welcome today’s announcement that, following its in-depth Phase II investigation opened last October, the UK Competition and Markets Authority has concluded that Viasat’s proposed acquisition of Inmarsat will not substantially lessen competition.
“Since July last year, the CMA has been conducting a rigorous examination of competition in the growing markets for in-flight connectivity (IFC) in commercial and business aviation.
“This is an important milestone in the regulatory process that acknowledges the strong evidence of the highly competitive nature of the global market for satellite communications which includes numerous providers, including well-established companies and well-funded new entrants. The combination of the two companies’ complementary technology and assets will create a better business that will offer greater capabilities to UK consumers and Government customers alike. It will also play a critical role in creating new jobs and delivering the goals of the UK’s National Space Strategy.
“We will continue to engage with regulators in Europe and the US on remaining regulatory approvals and will update the market as they progress.”