UK government, Indian company to buy OneWeb
Posted: Sat, Jul 4, 2020, 10:50 AM ET (1450 GMT)
The British government joined forces with an Indian telecom company to secure the winning bid for the assets of satellite megaconstellation company OneWeb, they announced Friday. The British government and Indian mobile network operator Bharti Global are each providing $500 million to buy OneWeb, which filed for Chapter 11 bankruptcy protection in the United States in March. The deal, pending court approval, is expected to close in the fourth quarter of 2020. The UK government says it plans to build out the OneWeb constellation to provide global broadband services, and government officials have previously suggested that they will use OneWeb to provide navigation services of some kind. The sale may also result in manufacturing of the satellites to move from the US to the UK.
The British government joined forces with an Indian telecom company to secure the winning bid for the assets of satellite megaconstellation company OneWeb, they announced Friday. The British government and Indian mobile network operator Bharti Global are each providing $500 million to buy OneWeb, which filed for Chapter 11 bankruptcy protection in the United States in March. The deal, pending court approval, is expected to close in the fourth quarter of 2020. The UK government says it plans to build out the OneWeb constellation to provide global broadband services, and government officials have previously suggested that they will use OneWeb to provide navigation services of some kind. The sale may also result in manufacturing of the satellites to move from the US to the UK.| <<previous article | next article>> |
|
news in brief
|
|
SES sees shift in revenue from video to government services
Posted: Sun, Aug 3 12:05 PM ET (1605 GMT) SpaceX launches Starlink satellites and classified payloads
Posted: Sun, Aug 3 12:03 PM ET (1603 GMT) |
|
news links
|
|
Thursday, August 7
Firefly Aerospace prices shares at $45, above the expected range
CNBC — 7:22 am ET (1122 GMT) Firefly Aerospace Announces Pricing of Upsized Initial Public Offering
GlobeNewswire — 7:22 am ET (1122 GMT) Firefly Aerospace begins trading on Nasdaq under ticker 'FLY" [Thursday]
San Antonio Express-News — 7:21 am ET (1121 GMT) Firefly Aerospace prices $868M upsized IPO, shares to trade under "FLY"
SeekingAlpha — 7:21 am ET (1121 GMT) Starlink interference threatens radio astronomy’s golden age
Astronomy — 7:20 am ET (1120 GMT) |
