Inmarsat Plc (LON:ISAT) shares rose on Monday after French satellites company Eutelsat revealed that it is considering launching an offer for its UK-listed rival.
In a brief statement, Eutelsat confirmed that it is “currently evaluating a possible offer for Inmarsat" but said there was no certainty an offer would be made.
READ: Mixed opinions on Inmarsat following rejection of EchoStar offer
Earlier this month, Inmarsat rejected a takeover approach from US-based EchoStar Corp (NASDAQ:SATS) which has been building a stake in the UK firm.
The FTSE 250-listed firm said it believed Echostar’s offer “significantly undervalued” the company
In late afternoon trading, Inmarsat shares were 4.7% higher at 634.6p, with the company yet to respond to Eutelsat’s statement.