Guardian – Inmarsat is leading the fallers as the market starts the week on a downbeat note.
The satellite operator has dropped 18.5p to 650p following reports that US hedge fund Harbinger wanted to sell 10% of its 28% stake in the business. The suggestion was Harbinger would place the shares to raise cash to help develop a next generation telecoms network in the US. Investors have previously anticipated that Harbinger would make a full bid for Inmarsat at some point, once regulatory clearances had been gained. This speculation has supported Inmarsat shares for a while, and any suggestion Harbinger is a seller not a buyer puts them under pressure.
