Satellite operator Echostar builds stake in bid target Inmarsat

LONDON: U.S. satellite operator Echostar has built a near 3 percent stake in Inmarsat , the British company that it is seeking to buy, stock exchange filings showed on Friday.

Inmarsat shares rose more than 8 percent after Echostar disclosed a 2.97 percent shareholding in the London-listed group. It comes after Inmarsat said earlier this month that it had rejected a bid approach from the U.S. firm.

FILE PHOTO: A technician looks at a solar panel on the Inmarsat S-Band/Hellas-Sat 3 satellite in th

(Reporting by Ben Martin; Editing by Elaine Hardcastle)

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