Viasat Inc. won European Union approval for its takeover of satellite communications rival Inmarsat Group Holdings Ltd. after regulators found the tie-up wouldn’t hurt competition.
The European Commission said on Thursday the duo’s market position “would remain moderate” after their tie-up and “a number of sizable competitors would likely exert sufficient competitive pressure.”
Carlsbad, California-based Viasat said it would acquire London-based Inmarsat for $850 million in cash and $3.1 billion in stock, and will assume $3.4 billion in debt, in November 2021. The companies are betting on surging demand for internet access from consumers in the sky.
The satellite industry ...
