By Denny Jacob

Viasat said Friday its proposed acquisition of Inmarsat was approved by the Federal Communications Commission.

The satellite operator said the decision leaves the European Commission's competition review as the key ongoing regulatory process related to the deal.

The transaction is expected to close later this month, the company said.

Viasat proposed in 2021 to acquire Inmarsat in a $7.3 billion deal. The deal would bolster Viasat to better compete with Starlink, the satellite-internet service operated by Elon Musk's SpaceX. Other companies are exploring moves that could level the playing field, including SES SA, which in March said it is in talks with Intelsat about a possible combination.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

May 19, 2023 17:57 ET (21:57 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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