Are Inmarsat (ISAT.L) about to break below the 540p support zone, or recover again to 607p highs? (+11%)

• The share price is close to 540p support. Shares are 545p (at time of writing).
• The support has proven robust to date. Will it stand firm this time?
• The shares have touched this level numerous times.
• Check our website and news outlets for updates. Fundamental developments can affect the strength of support levels.
• Be aware of the ongoing takeover situation.
• Shares -10% from 12-month highs; +50% from 12 month lows.

Latest News

27 Nov:  Inmarsat, the satellite company,  announced that a court date to sanction its £3.4bn acquisition by the consortium including Warburg Pincus, Apax Partners and Canadian pension funds had been delayed again.

20 Nov:  Inmarsat posted a significant decline in profits for Q3 as revenues were adversely affected by the ending of payments from Ligado, the US communications company.

08 Nov:  Inmarsat announced that a court hearing to sanction its acquisition had been delayed until late November.  Inmarsat agreed to a £3.4bn takeover in March.

05 Nov:  Inmarsat has said it intends to go ahead with a court hearing next week to finalise a takeover. There had been a demand from a major shareholder for a delay.

30 Oct:  Inmarsat announced that it had provisionally arranged a court hearing for November 12 to sanction the $3.4bn acquisition by a private equity consortium.

06 Aug:  Deutsche Bank has downgraded its rating on Inmarsat (ISAT) to hold (from buy).

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

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