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Inmarsat loses maritime safety monopoly

Inmarsat loses maritime safety monopoly

First-quarter results provided sanctuary from the barrage of woes in the battle of Inmarsat (ISAT) and investors enjoyed a brief moment of calm. That was not to last. The International Maritime Organisation has fired a sizeable hole in the company by approving ship safety technology made by two competitors – a move that will further hamper management’s efforts to keep Inmarsat afloat.

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