Furthermore, latest surveys offer real grounds for hope on the export front with the export orders index in the January manufacturing purchasing managers survey jumping to a record (1996) high. In addition, the export orders balance of the January CBI industrial trends survey improved markedly to a 13-month high.

We are still hopeful that net trade will make a positive contribution to UK growth in 2010 as we believe imports will be limited by only gradually improving domestic demand and we do expect exports to be lifted further by a competitive pound and improved global growth and trade. Unfortunately though, it is by no means a certainty.

However, Harbinger remains interested in acquiring control of Inmarsat and is therefore actively considering whether to pursue the relevant regulatory and competition approvals in order to be able to make an offer for Inmarsat in the future. Assuming there is an acceptable conclusion to the regulatory approval process Harbinger would intend to re-enter into discussions with the board of Inmarsat regarding the terms of an offer and endeavour to seek a recommendation from the Inmarsat board at that time.

A number of Regulatory Approvals will need to be obtained in respect of the Proposed Offer, including approval from the U.S. Federal Communications Commission. The Potential Offeror expects that it will take approximately 12 to 18 months to obtain all of the Regulatory Approvals – a period which significantly exceeds a normal offer period. Therefore, prior to any offer being made by the Potential Offeror for Inmarsat, the Potential Offeror will seek to obtain the principal required consents, including those which are expected to take the longest to obtain. Further details of the Regulatory Approvals are set out in the section below entitled ‘Regulatory Approvals and Timetable’.

There is no certainty that the Regulatory Approvals will be obtained, or that they will be obtained on terms satisfactory to the Potential Offeror.

Terms of Proposed Offer

As a result of the uncertainty in relation to the Regulatory Approvals it is not the intention of the Potential Offeror to announce the formal terms or structure of any offer at this stage.

I enjoy reading your blog and would like to know if you are interested in covering the current conflict Air Traffic Controllers like myself are going through due to Minister José Blanco’s witch-hunt against us and privatizing the Spanish Air Traffic Control services.

Thank you very much for your time and attention.

Kind regards.

Nearly three fifths of voters say that they hardly recognise the country they are living in, while 42 per cent say they would emigrate if they could.

But worries over the pace of social change and dislocation are balanced by the belief that life will get better, according to the survey undertaken at the weekend.

“I believe the FSA has made great strides in ensuring that such individuals are in place in the UK and I am sure that after I leave they will continue to do invaluable work to ensure financial stability and protect the interests of consumers.”

1. Deteriorating fundamentals in India as intense competition bites (underlying mobile growth was 7% in Q3 but could go ex-growth in Q4).

2. The rapidly maturing US market which impacts the fundamental value of VZW and reinforces our belief that any early reinstatement of the VZW dividend is unlikely.

3. Intangible capex – spectrum is a strategic resource and despite claims of ‘not being desperate for spectrum’ a mobile company can never have enough!

4. New spectrum could trigger data-centric new entrants.