Harbinger Capital Partners LLC said Tuesday it has sold 65 million ordinary shares in Inmarsat PLC (ISAT.LN) held by its affiliated investment funds, Harbinger Capital Partners Special Situations Fund, L.P. and Harbinger Capital Partners Master Fund I, Ltd., constituting 14.1% of the issued share capital of Inmarsat.

MAIN FACTS:

-The shares were sold at a price of 630 pence per ordinary share raising gross proceeds of around GBP410 million.

-Following this Transaction, the collective shareholding of Harbinger and its affiliated investment funds is reduced to 64,277,349 ordinary shares in Inmarsat, representing 14.0% of Inmarsat's issued share capital.

-This remaining shareholding will be subject to a 180 day lock-up arrangement with Credit Suisse and UBS Investment Bank.

-Inmarsat shares closed Monday at 655.0 pence.

By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com
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