• July 3 2020

    The British government has led a successful consortium bid to acquire bankrupt satellite operator OneWeb, saying the move signals the UK’s ambition “to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies through the ownership of a fleet of Low Earth Orbit satellites”.

    Business Secretary Alok Sharma confirmed the government will invest US$500 million to take a “significant equity share” in London-headquartered OneWeb, which filed for Chapter 11 bankruptcy protection in New York at the end of March.

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