Inmarsat (ISAT.L) 06-11-19
Will Inmarsat (ISAT.L) break below the 550p support, or bounce to highs at 608p (+9%)?
- Currently trading around the 550p support at 554.82p (at time of writing).
- Will the shares rally to recent highs of 608p? (+9%).
- Shares -8% from 12-month highs; +52% from 12 month lows.
05 Nov: Inmarsat, the satellite company, announced that it intended to conduct a court hearing next week in view of a company takeover. There had been calls from some major shareholders to delay the hearing.
30 Oct: Inmarsat, the satellite company, announced that a court hearing for November 12 had been provisionally booked. Apax Partners and Warburg Pincus are leading a consortium to buy the company for $3.4bn.
06 Aug: Deutsche Bank has downgraded its rating on Inmarsat (ISAT) to hold (from buy).
01 Aug: Inmarsat posted smaller losses in H1, driven by growth in its aviation and government businesses.
24 Jun: Inmarsat announced it had reached a settlement agreement with RigNet. Inmarsat will be paid $50.8m.
30 May: Inmarsat reached a deal with Airbus to manufacture three ‘next-generation’ Global Xpress satellites. The first will launch in early 2023.
03 May: Numis has upgraded its rating on Inmarsat (ISAT) to hold (from sell).
Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires