Business Postscript: Inmarsat's star rises again in the east
(Observer (UK) Via Acquire Media NewsEdge) Exploding rockets and a bankrupt US partner have recently brought satellite operator Inmarsat down to earth. But there were better signs last week. The company announced its first Global Xpress satellite had been launched using a Russian Proton Breeze rocket.
In July, Inmarsat's shares slumped when a Proton - not launching Inmarsat hardware - crashed after takeoff. There had been fears that this could delay Global Xpress until 2014.
Meanwhile, private equity firm Centerbridge Partners reportedly entered the bidding for bankrupt telecoms group LightSquared, which would be good news for Inmarsat's partnership with the company. On top of that, Inmarsat was added to the reserve list for the FTSE 100. Flying high.
(c) 2013 Guardian Newspapers Limited.
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