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UK government commits $500 million in bid to rescue bankrupt OneWeb

1 month ago   |   By Spaceflight Now

A OneWeb satellite inside the company's factory in Florida. Credit: OneWeb Satellites
The UK government and India's Bharti Global mobile telecom operator announced Friday they placed the winning bid to purchase OneWeb, which filed for bankruptcy in March while in the early stages of deploying a megaconstellation of broadband satellites.
The $1 billion purchase agreement includes $500 million each from the UK government and Bharti Global, and OneWeb said in a statement the deal would “capitalize the company sufficiently” to complete “the full end-to-end deployment of the OneWeb...
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