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Japan's KDDI sells entire stake in satellite firm Inmarsat

Reuters - UK Focus

LONDON, Feb 23 (Reuters) - Japan's second largest wireless carrier KDDI Corporation (Other OTC: KDDIF - news) said on Monday it plans to sell its entire 4.85 stake in satellite communications company Inmarsat (Other OTC: IMASF - news) in an accelerated bookbuilding process.

The price of the 21.74 million ordinary shares to be sold will be determined on completion of the transaction, KDDI said.

Nomura International plc is acting as sole bookrunner for the offering. (Reporting By Andrew Winterbottom; Editing by Sophie Sassard)