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BUZZ-Inmarsat: satellite launch failure spurs worst day in 2 yrs

Reuters - UK Focus

** Inmarsat (Other OTC: IMASF - news) retreats further from an all-time high hit recently, down 4.1 pct & on course for biggest one-day drop since July 2013

** Co delays launch of its third GX satellite (for high-speed broadband network) following launch failure of another satellite

** Co forced to trim its financial outlook

** Jefferies says delay of a few months doesn't change the basic economics of GX investment; sees co's competitive positioning as reasonably robust given largest source of competition (Intelsat's Epic (Other OTC: EPOR - news) ) not due to launch until 1Q16

** Jefferies says that from its coverage, Inmarsat, Intelsat & Eutelsat will be directly impacted (Inmarsat likely to be hardest hit); Eutelsat (Paris: FR0010221234 - news) down 1.2 pct

(RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)