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Inmarsat rallies on takeover hopes

Inmarsat rallies on takeover hopes

After two years of disappointment, Inmarsat's (ISAT) shareholders are due some good news. Shares in the telecoms giant jumped just over a fifth in the two days after management announced it had received a takeover approach from US peer Echostar Corporation. However, the board rejected the proposal, asserting that it “very significantly undervalued” the group and its prospects. Echostar has until 6 July to make a firm offer.

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