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Inmarsat announced a 13% decline in its first quarter results, its first income statement since an agreement was reached last March with the takeover of Britain's largest satellite company.
The private equity firms led by Apax and Warburg Pincus this year have stated that Inmarsat would return to private equity ownership almost 15 years after its IPO, as part of a transaction evaluating the group. about $ 6 billion in debt.
Inmarsat announced on Wednesday that earnings before interest, taxes, depreciation and amortization fell to £ 152.4 million as at March 31, mainly due to costs related to the repurchase transaction and lower Ligado revenues, the US mobile network at the beginning of the year. spectrum space leased to Inmarsat.
The group said it was expected that the private equity transaction would be finalized in the fourth quarter of this year, subject to shareholder and regulatory approvals.
He maintained his year-over-year outlook unchanged from March and announced a 0.4% increase in revenues to £ 346.9 million.
Inmarsat has been regularly badociated with a takeover by a rival of the sector, but has struggled to attract investors because of its recent poor performance.
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