June 25, 2018 / 2:06 PM / 3 months ago

Inmarsat shares jump on report Eutelsat considering takeover bid

LONDON (Reuters) - Shares in British satellite company Inmarsat (ISA.L) spiked higher on Monday, with traders citing a Bloomberg report that France’s Eutelsat is considering a takeover bid for the firm.

Inmarsat shares were trading up 3.8 percent by 1353 GMT.

Eutelsat (ETL.PA) shares briefly spiked on the news before rapidly falling back, last trading down 1.2 percent.

One trader said there was a “small question mark” over how Eutelsat would finance such a deal.

Its market cap is 4.1 billion euros while Inmarsat’s is 2.8 billion pounds (3.2 billion euros).

A spokeswoman for Inmarsat had no comment while Eutelsat was not immediately available to react to the report.

Reporting by Helen Reid, editing by Julien Ponthus

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