PwC awarded £16.5m contract to manage Northern Rock remaining assets

first_imgRead more: Moody’s forecasts fast growth for Islamic banking in next five years It has also repaid the £48.7bn of state loans it used to fund the bailouts. “We launched a transaction aimed at selling the legal entities of Northern Rock and Bradford & Bingley, along with their remaining assets, which would allow us to complete our objective and dispose of the government’s investment in these businesses,” a spokesman told City A.M. whatsapp The Big Four accountancy firm will be paid £16.5m to manage UKAR until 2030, but the holding company will remain in government ownership, according to a UKAR spokesman. PwC declined to comment. “Using the Official Journal of the EU (OJEU) process, we have agreed to outsource this work to PwC once UKAR has completed its objective.” whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeWolf & ShepherdNFL Star Rob Gronkowski Loves These ShoesWolf & ShepherdUndoBill CruncherArizona Drivers With No DUI’s Getting A Pay Day This Month (Check If You Qualify)Bill CruncherUndoStuff AnsweredBest Mattress Deals for Seniors 2020Stuff AnsweredUndoElvenarIf You Are Above 30, this Fantasy Game is a Must-Have. No Install.ElvenarUndoNational Injury BureauJury Finds Roundup Responsible For Lymphoma | Bayer To Pay $10 BillionNational Injury BureauUndoFinance DailyHomeowners Born Before 1985 Can Get This Huge Benefit in June (But You Must Request It)Finance DailyUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoProFind Bath Bathroom Renovation Quotes1 Day Shower Installation: How Much Does it Cost?ProFind Bath Bathroom Renovation QuotesUndoDental Implant Info | Search AdsActual Dental Implant Costs In 2021 Might Make You Amazed!Dental Implant Info | Search AdsUndo Michael Searles Read more: Rabobank profits fall by a quarter as lender hit with chargescenter_img However, PwC came under fire for failing to highlight the risk involved in Northern Rock’s business model, which saw it require rescuing from the state. The Treasury took over UKAR, a bank set up to sell Northern Rock and Bradford & Bingley assets, following the financial crisis. PwC awarded £16.5m contract to manage Northern Rock remaining assets It comes 12 years after the accountancy firm was criticised for being complacent in its audits of the failed lender, which collapsed in 2007. PwC will now take control of UK Asset Resolution (UKAR) according to a government contract notice. Share It was also accused of a conflict of interest as helped Northern Rock sell off its mortgage assets at the same time it was responsible for checking its books. PwC has been awarded a contract worth £16.5m to manage the government’s remaining assets in Northern Rock. Friday 16 August 2019 9:54 am UKAR initially managed more than £100bn worth of assets from the failed lenders, but by April this year had reduced its balance sheet to £8bn after a string of asset sales.last_img read more

Entrepreneurs pitch ideas at Innovation Summit

first_imgBusiness | Economy | Juneau | SoutheastEntrepreneurs pitch ideas at Innovation SummitFebruary 3, 2016 by Ed Schoenfeld, CoastAlaska News Share:Audience members listen to speakers during the 2015 Innovation Summit at Juneau’s centennial Hall. (Photo courtesy Governor’s Office)The fifth annual Innovation Summit begins Feb. 8 at Juneau’s Centennial Hall.It’s a business symposium that attracts 200 to 250 people from around the state, though most are from Juneau. They discuss commerce and hear experts in a variety of related fields.Brian Holst is executive director of the Juneau Economic Development Council, which is putting on the event.“The innovation summit really is an intense day-and-a-half opportunity to immerse yourselves in lead thinking around how do we address these issues that we’re dealing with and how do we advance our regional, local economy,” he said.Holst said state budget cuts and the Juneau Walmart closure mean it’s a good time to consider the area’s economic future.The agenda includes speaker Michael Shuman, an expert on local economic development. Another is Karen Pittman, whose focus is youth investment.Holst said a new program added to this year’s summit is an entrepreneur pitch breakfast.“We’ve invited four entrepreneurs that have businesses that are at the beginning of their lives. They’re going to pitch their ideas to a live audience and then the audience is going to select by voting which is the most compelling business opportunity,” he said.The winner receives a cash reward.The Innovation Summit begins at 1 p.m. Feb. 8 and continues through the evening of Feb. 9 at Juneau’s Centennial Hall.Editor’s note: The date the summit begins has been corrected. It begins Feb. 8, not Jan. 8. Share this story:last_img read more

The Heath GAA gather for 25th anniversary of last Laois senior football success

first_img Facebook Council WhatsApp Community WhatsApp Pinterest Twitter Manager at the time Seamus Fitzpatrick was also present as well as selectors Jackie Hyland and Mattie Bergin.Jack Nolan acted for MC on the night while the ACFL Division 3 medals – won in a thrilling final against Portarlington last July – were also presented. Charlie Flanagan on Electric Picnic: ‘I’d ask organisers to consult with community leaders’ New Arles road opens but disquiet over who was invited to official opening Christmas is a great time for catching up with old friends – and that’s exactly what The Heath GAA did on December 28 when they held a reunion in Treacy’s for the members of the club’s 1993 Laois SFC winning side.That famous triumph occurred 25 years ago in October and spirits were high in Treacy’s as they looked back on that magical time in the club”s history.The Heath have 10 Laois SFC titles in total but that 1993 win represents their most recent when they ended a 19-year wait since their last.That 1993 success was particularly sweet, coming as it did on a scoreline of 2-17 to 2-15 after a replayed extra-time epic against Ballyroan.It was the second game in a row that The Heath needed extra time in a replay, having also gone to two games in the semi-final against Stradbally, a game remembered for a massive melee in O’Moore Park.Indeed a feature of The Heath’s success that year was a series of wins over their neighbours on all side. In the opening round they beat Emo, the next day out they beat Portlaoise, then Park-Ratheniska in the quarter-final, then Stradbally and Ballyroan.Another element of course was the strong family ties. Six sets of brothers were on the starting team – three Lalors, two Roes, two Booths, two Brownes, two Dunnes and two McNamees. Paul Daly and Donie Norton were the only ones not to be joined by a brother – but amazingly Donie Norton’s brother Greg was part of the Ballyroan setup.A good representation of those players were present for what was an entertaining evening but one that also had a touch of poignancy as they remembered their late team-mate Don Browne who passed away a couple of years back. TAGS1993The Heath Facebook Laois secondary school announces scholarship winners for new academic year The Heath GAA gather for 25th anniversary of last Laois senior football success Previous articleRemembering the ‘Brawl in the Dáil’ featuring a high-profile Laois TDNext articleDeaths in Laois – Sunday, January 6, 2019 Steven Millerhttp://www.laoistoday.ieSteven Miller is owner and managing editor of LaoisToday.ie. From Laois, Steven studied Journalism in DCU and has 14 years experience in the media, almost 10 of those in an editorial role. Husband of Emily, father of William and Lillian, he’s happiest when he’s telling stories or kicking a point. RELATED ARTICLESMORE FROM AUTHOR SEE ALSO – Late Kingston goal helps Laois to O’Byrne Cup win over Wicklow Pinterest Community Twitter Home Sport GAA The Heath GAA gather for 25th anniversary of last Laois senior football… SportGAA By Steven Miller – 6th January 2019 last_img read more

Investors put great faith in advisors: survey

first_img Trust in financial advisors runs high among investors, according to Natixis Global Asset Management’s 2017 Individual Investor Survey. Asking for referrals: pick up the phone Budget proposal aims to help low-income earners access advice In fact, 93% of investors surveyed for the report trust their own advisors when making investment decisions, while 80% of investors put trust in advisors in general. This is good news for advisors, especially if they switch firms, as 51% investors surveyed said they would follow their advisor if they joined another financial services institution. Meanwhile, 72% of investors surveyed said they trust financial services firms for investment advice, followed closely by industry experts or analysts at 71%, and close friends, family and co-workers at 68%. In contrast, investors are least likely to go to social media for advice on investment decisions as only 38% of investors put their trust in online channels. “Wary of the markets and swamped by information from numerous sources that can be hard to digest, today’s investors want forthright, actionable advice and guidance from trustworthy sources to aid them in their financial decision-making,” says Abe Goenka, CEO of Natixis Global Asset Management Canada, in a statement. When looking for an advisor, most investors rely on referrals from friends, relatives or colleagues (34%). Otherwise, investors look to advice from other professionals, such as a lawyer (23%), an Internet search (7%), an advisor in their family or social circle (7%), an advisor who has contacted them (7%) and social media (6%). Another key factor for investors when selecting an advisor is how much the advice will cost. Specifically, 50% of investors said fees matter most when deciding on an advisor. Referrals from friends and family were secondary (47%), followed by an advisor’s education and credentials (43%) and the size and reputation of the advisor’s firm (39%). Investors are less concerned with access to unique investment opportunities (20%). Despite strong faith in advisors’ investment expertise, investors still wish their advisors would do more of the following, in order of importance: Give a clear explanation of fees Provide investments that reflect personal values Listen Help manage market volatility Help with tax issues Help discuss financial planning with family members Discuss charitable giving and philanthropic goals Talk about estate planning Natixis surveyed 300 Canadian investors with a minimum of $123,661 in investible assets as part of the global study of 8,300 investors in 22 countries this past February. Photo copyright: racorn/123RF Facebook LinkedIn Twitter Assante offering free advice to those hit by crisis Related news Bespoke advice becoming more important in changing industry Leah Golob Keywords Value of advice Share this article and your comments with peers on social medialast_img read more

GG Lauds Efforts of Jamaica Cancer Society

first_imgRelatedGG Lauds Efforts of Jamaica Cancer Society RelatedGG Lauds Efforts of Jamaica Cancer Society GG Lauds Efforts of Jamaica Cancer Society Governor GeneralOctober 25, 2009 FacebookTwitterWhatsAppEmail The Governor-General, His Excellency the Most Hon. Sir Patrick Allen, has lauded the Jamaica Cancer Society for its work in encouraging persons to get tested for cancer, in a bid to eliminate the disease as a major health challenge in Jamaica.“I commend the members of the Jamaica Cancer Society for the exemplary work that they have done, over the years, to encourage our people to be tested for all types of cancers,” the Governor- General said in his address at the society’s annual Keeping Abreast luncheon, at the Jamaica Pegasus Hotel, New Kingston, Thursday (October 22).He also commended the work of the Society’s mobile unit, which travels throughout rural parishes to facilitate access to testing for cancer in both men and women, and to spread the message of pursuing a healthy lifestyle.The Head of State noted further that he was particularly inspired by the Society’s annual fundraising drive, ‘Relay for Life’.“Each year, since its establishment in Jamaica in 2003, hundreds of Jamaicans gather at the Police Officers Club, Hope Road, Kingston, to bond with survivors and others, to lend their personal support to the effort to raise funds for cancer research and the delivery of the services provided by the Jamaica Cancer Society throughout Jamaica,” he noted.Vice Chairman of the cancer society, Michael Fraser, reminded women of the importance of early detection in the fight against breast cancer, and encouraged them to do regular self examinations and mammograms, as well as to educate themselves about the various treatment options available.“Breast cancer is one of the most common cancers among women in this country, and many women still associate breast cancer with a death sentence. That’s not so. The reality is that, early detection of the disease can lead to effective treatment and positive prognosis,” he noted.He also revealed that it is estimated that eight out of 10 women with cancer are surviving beyond five years, and that survival rates are better the earlier cancer is diagnosed.Mr. Fraser said that the luncheon not only increases awareness, but is also the Society’s way of bringing together survivors, friends, sponsors and well wishers in fellowship.“This luncheon gives us an opportunity to witness the meaning of hope – hope that there can be a full and happy life, after breast cancer has been diagnosed,” he remarked.The luncheon was sponsored by Pan Caribbean Financial Services Limited and American Airlines. It is part of activities that have been planned for Breast Cancer Awareness Month (October), which is being commemorated under the theme: ‘Early Detection, Your Best Defence in the Fight against Breast Cancer’.“During the month, we highlight the significance of breast cancer, and the steps that should be taken to reduce the impact on our population,” Mr. Fraser said.A non-profit, non-Governmental organisation formed in 1955, the Jamaica Cancer Society is charged with the mandate to “fight and defeat cancer in all its forms”. It engages in activities geared toward the prevention and control of cancer in Jamaica.center_img RelatedGG Lauds Efforts of Jamaica Cancer Society Advertisementslast_img read more

COVID-19 North West Outbreak Independent Review

first_imgCOVID-19 North West Outbreak Independent Review Sarah Courtney,Minister for HealthI acknowledge that Tasmanians, and especially our health staff and those living in the North West, have a strong interest in understanding what happened in the North West outbreak earlier this year.Today I welcome the release of the COVID-19 North West Outbreak Independent Review, and thank the working group and Independent Reviewer Greg Melick AO SC for their work.Nothing is more important to the Tasmanian Liberal Government than the safety of our staff and patients, and we are determined to ensure that our health system is as prepared as possible.The North West Outbreak occurred at a stage in the pandemic when there was very little experience in managing COVID-19, so this independent review is vital to the Tasmanian community’s understanding of this event.I thank the health staff and senior management for their input into this process. In particular, I thank the State Health Commander for the incredible amount of work she has done. The report notes that it is of great credit to the State’s emergency management system, the Department of Health, and the many dedicated people who worked long hours, that the outbreak was successfully contained, and I know that the leadership of Kathrine Morgan-Wicks was a significant factor in this outcome.We have accepted the Review’s recommendations, either fully or in-principle, and I look forward to working with staff across our health system to implement them.The Department of Health has commenced working on an implementation plan, noting that action has already been taken against a range of the recommendations and, considering we are still in a state of Public Health Emergency, it is expected some of the recommendations will be addressed as part of the broader Emergency Management review, post pandemic.Following the North West Interim report we moved swiftly to implement all 17 recommendations which include the following;The commencement of the first ever Infectious Diseases specialist for the North West, with recruitment underway for additional registered nurses for educational and support roles;The commencement of a dedicated WH&S Clinical Nurse Educator in the first week of August 2020;The recruitment of two dedicated Infection Control Nurses;The development of new training in PPE (Personal Protective Equipment) and contact tracing;A new Outbreak Management Plan;The implementation of stronger screening processes in our hospitals;Improved auditing of Infection Prevention and Control;New patient transfer protocols implemented in our hospitals and Ambulance Tasmania;A new staff wellbeing program; andImproved communication processes to ensure that staff are well informed of emerging issues and the status of COVID-19 activity across the State.The Government is committed to ensuring we learn the lessons from the North West outbreak, and we will share these across our health system so that we can all continue to work to do our best to avoid similar outbreaks in the future.I thank our brave, hardworking frontline staff who are continuing to do an unbelievable job caring for and supporting Tasmanians during the pandemic. I also acknowledge the broader North West community for their outstanding efforts to ensure the outbreak was contained.Finally, I would like to express my condolences to the families and friends of those who died as a result of this outbreak. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Ambulance, AusPol, Australia, communication, community, covid-19, Department of Health, Emergency, future, Government, health, infection, infectious disease, Minister, Outbreak, public health, TAS, Tasmania, Tassielast_img read more

CU-Boulder And Australian Researchers Join Forces To Study Reading In Young Twins

first_imgShare Share via TwitterShare via FacebookShare via LinkedInShare via E-mail Researchers from the University of Colorado at Boulder and the University of New England in Australia have been awarded $2.4 million from the National Institutes of Health to study early reading development in identical and fraternal twins. The CU-Boulder portion of the project is directed by psychology Professor Richard Olson, who is working with co-investigators John DeFries, Sally Wadsworth, Erik Willcutt and Bruce Pennington of CU’s Institute for Behavioral Genetics. The researchers hope to study about 600 pairs of twins in Colorado whose names were gleaned from the Colorado Twin Registry and whose parents have agreed to let their children participate, said Olson. The other collaborator is Brian Byrne from the University of New England in Armidale, Australia. Byrne and Olson are conducting a parallel study of twins in Sydney and Melbourne that is funded by the Australian Research Council. Byrne and Olson currently have funding to study about 200 pairs of twins in Australia and hope to add another 350 pairs to the study contingent upon an additional research grant that is pending, said Olson. “The primary goals of the new, five-year research project are to understand the factors influencing individual differences in early reading, language and attention,” Olson said. The researchers hope the project will allow them to learn more about what can be done to help preschool children who are at risk for reading difficulties. “Identical and fraternal twins provide a unique opportunity to explore the environmental and genetic influences on individual differences in early reading, language and attention,” said Olson. Both types of twin pairs share the same home, school and community environments, but differ in their genetic similarity, he said. “Identical twins have the same genes, while fraternal twins share half of the genes that influence individual differences.” The comparison of identical and fraternal twins will provide information about average genetic influence on differences in early development, Olson said. “It also will provide information about the importance of environmental influences that are shared by the twins and environmental influences that are different for each twin.” The researchers will work with the twins in their homes and preschools beginning at age 4 and will follow them through kindergarten, first grade and second grade. “Working with preschool twins poses many challenges, but it will help in understanding how different patterns of preschool development influence their response to subsequent schooling,” said Olson. Reading problems in the early grades are highly predictive of problems in the later grades and in adulthood, he said. “Learning more about the developmental precursors that place young children at risk for failing in the early grades will help with the prediction and amelioration of early developmental problems before children begin formal schooling.” Published: March 20, 2000 last_img read more

Civil Servants Get 20 Per Cent Discount on Festival Tickets

first_imgStory HighlightsPublic sector workers will receive a 20 per cent discount for tickets purchased to attend Jamaica Festival activities 2014.Civil servants will be able to enjoy the nightly entertainment events from August 1 to 5 at the Jamaica Festival Village at the Ranny Williams Entertainment Centre (RWEC) at the reduced cost of $800.Ticket prices for all events will cost $1,000 for adults and $400 for children under 12, and will be available at Jamaica Cultural Development Commission (JCDC) offices from Monday, July 14. FacebookTwitterWhatsAppEmail Photo: JIS PhotographerExecutive Director of the Jamaica Cultural Development Commission (JCDC), Delroy Gordon, speaking about activities for Jamaica Festival 2014 at a JIS Think Tank held on Wednesday, July 9, at the agency’s head office in Kingston. Civil Servants Get 20 Per Cent Discount on Festival Tickets CultureJuly 10, 2014Written by: Elaine Hartman Reckord Public sector workers will receive a 20 per cent discount for tickets purchased to attend Jamaica Festival activities 2014.Civil servants will be able to enjoy the nightly entertainment events from August 1 to 5 at the Jamaica Festival Village at the Ranny Williams Entertainment Centre (RWEC) at the reduced cost of $800.Ticket prices for all events will cost $1,000 for adults and $400 for children under 12, and will be available at Jamaica Cultural Development Commission (JCDC) offices from Monday, July 14. Tickets may also be purchased online at www.jcdcjamaica.com.In addition to the nightly entertainment, the Village, which will open at noon daily, will offer rides, attractions, booth displays, food court and entertainment for the entire family. Day time entrance to the Village is free of cost.Speaking at a Jamaica Information Service (JIS) Think Tank held on Wednesday, July 9, at the agency’s head office in Kingston, Executive Director of the Jamaica Cultural Development Commission (JCDC), Delroy Gordon, said the special rate was introduced for civil servants, who are under a wage restraint.All public sector workers will be required to purchase their tickets at the JCDC Head Office and provide proof of employment such as employee’s identification or pay stubs.Mr. Gordon mentioned a number of new programmes, which have been introduced, including, the Independence Signature Conversations, The Big Stage, Heart of Ska, Aunty Roachie Festival and the Dutchie Culinary Festival.He said the JCDC will be providing “the best and most wholesome family-oriented activities” and encouraged Jamaicans to attend the various events and “enjoy the celebrations.”“Despite the hard work and challenges, this is always an exciting time for the JCDC as we seek to stand behind the execution of our work throughout the year and to really bring to fore the outstanding talents that abound in this country,” he added.Jamaica Festival 2014, which is being held under the theme: ‘This is Jamaica…My Jamaica,’ is being organized by the Ministry of Youth and Culture in conjunction with its cultural agencies. RelatedJamaica Remembers Norman Manleycenter_img RelatedGovernment Develops Action Plan to Protect Children from Violence Civil Servants Get 20 Per Cent Discount on Festival TicketsJIS News | Presented by: PausePlay% buffered00:0000:00UnmuteMuteDisable captionsEnable captionsSettingsCaptionsDisabledQualityundefinedSpeedNormalCaptionsGo back to previous menuQualityGo back to previous menuSpeedGo back to previous menu0.5×0.75×Normal1.25×1.5×1.75×2×Exit fullscreenEnter fullscreenPlay RelatedSignature Conversations to Kick Off Independence Celebrations Advertisementslast_img read more

Europe aims for 5G driving seat

first_img Nokia scores Philippines 5G deal with Dito Tags Home Europe aims for 5G driving seat Previous Article10 reasons to watch Mobile World Live TV at MWC14Next ArticlePractice what you preach Telkomsel turns on 5G in major cities Mobile Mix: Buzzing for Barcelona Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Steve Costello center_img AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 10 FEB 2014 Author Related Asia [email protected] SUMMIT: Europe can “lead the agenda” for 5G development, but a collaborative approach including welcoming new stakeholders will be crucial, according to the European Commission’s Thibaut Kleiner.Speaking this morning, he said: “We need to make sure that the 5G PPP association, which is leading the [public-private partnership] effort, remains as open as possible. And let me emphasise this: the Commission will only support an open infrastructure that integrates new stakeholders. We need that, for the success of 5G”.The EC kicked-off 5G PPP late last year, with an indicative budget of €700 million, and with industry expected to contribute a similar amount.“Europe can build consensus with many industry players, and we can lead this agenda globally, fostering standardisation and international cooperation like we did for the previous standards, and this includes spectrum planning of course,” Kleiner said.And this collaborative approach will not be confined to work within the European Union. “We need to have international cooperation if we want 5G successful, and this means including the Asian partners, but also America,” he continued.While 5G will obviously bring benefits in terms of speed and latency, Kleiner also said that “it’s about more secure networks using less energy, with lower operating costs”.And there will also be the need to support new applications and services, he continued. “It’s about a new revolution in what networks can do. It’s about machine-to-machine, the internet of things, and we are talking here about a whole new range of possibilities about telecoms networks.”“Right now we are trying to develop, and we expect from industry, a clear roadmap of projects, that will deliver the necessary building blocks for this technology,” Kleiner noted. [email protected] CommissionRegulatoryTechnologylast_img read more

EchoStar aborts Inmarsat move

first_img Tags Previous ArticleKT deploys drones, robots for disaster recoveryNext ArticleTelenor embroiled in Swedish privacy spat Author AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 09 JUL 2018 Ex-Nokia chief Suri lands at Inmarsat Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Related Home EchoStar aborts Inmarsat move Kavit Majithia US satellite company EchoStar dropped its proposed takeover bid for UK-based rival Inmarsat, making an about-turn just minutes before it was due to make a formal offer.EchoStar made an informal £3.2 billion bid for Inmarsat last week, its second approach after an initial bid at the start of June, but both were rejected for undervaluing the company.The satellite company revealed details of its bid on Friday morning (6 June) and was set to make a formal bid later that day.However, Financial Times reported the US company said it would not be making a formal offer 27 minutes before a deadline.EchoStar is now unable to make a bid for the company for six months, unless Inmarsat’s board approaches it or a rival offer is made.France-based rival Eutelsat considered making an offer for Inmarsat in June, before pulling out after its interest become public. FT said private equity buyers could also be in the running, but any international takeover is likely to face political scrutiny due to security concerns.EchoStar revealed its latest offer amounted to 532p a share, a 46 per cent premium on Inmarsat’s share price from the day it first announced its interest in May.Last month, the US company also disclosed it owned a 3 per cent stake in Inmarsat, as well as a significant bond holding.Inmarsat said it has confidence in its future as an independent company, while maintaining EchoStar’s improved offer was still “significantly” below the value of the company. Suri gets the band back together at Inmarsat Inmarsat to go private in $3.4 billion deal EchoStarInmarsatlast_img read more