LightSquared went bust following the US communications regulator saying that its services could interfere with GPS signals widely used by the farming industry in the US. Other investors have emerged who also object to the deal in its current form, Rubic Capital (2.2 per cent holding) and Kite Lake Capital (3.8 per cent) which also say the deal should be halted until the Ligado asset is better understood. Intelsat's management and advisers have rejected the move but there will be a routine Court hearing next week as part of the purchase, and the objectors are expected to object to the deal. The formal acquisition of Inmarsat is being undertaken by Connect Bidco which is a consortium comprising Apax Partners LLP, Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board and Warburg Pincus LLP for Inmarsat plc.