The European Commission (EC) unconditionally approved a $7.3 billion acquisition of satellite operator Inmarsat by US rival Viasat, paving the way for the deal to close by the end of the month.
In a statement, the EC explained it had no competition concerns regarding the acquisition, following an in-depth probe commenced in February.
Competition Commissioner Margrethe Vestager noted the investigation found the deal would not negatively impact the competitive landscape for in-flight broadband connectivity services on commercial airlines in the European Economic Area.
The EC noted “a number of sizeable competitors would likely exert sufficient competitive pressure on the merged entity” and its “market position would remain moderate”.
EC clearance was the final hurdle to the acquisition: the US Federal Communications Commission gave its approval last week and UK authorities earlier this month.Subscribe to our daily newsletter Back