UK Parliament to investigate OneWeb deal
Posted: Sun, Jul 26, 2020, 1:06 PM ET (1706 GMT)
Members of Britain's Parliament say they will investigate the government's decision to invest in OneWeb despite warnings from a top official. Darren Jones, chairman of the Business, Energy and Industrial Strategy Committee in the House of Commons, said an inquiry was warranted after finding that Sam Beckett, the highest ranking civil servant in the Department for Business, Energy and Industrial Strategy, raised objections to the $500 million investment in OneWeb. Beckett said that there were "significant downside risks" to the investment and that "the central case is marginal." Business Secretary Alok Sharma overrode those objections and approved the deal.
Members of Britain's Parliament say they will investigate the government's decision to invest in OneWeb despite warnings from a top official. Darren Jones, chairman of the Business, Energy and Industrial Strategy Committee in the House of Commons, said an inquiry was warranted after finding that Sam Beckett, the highest ranking civil servant in the Department for Business, Energy and Industrial Strategy, raised objections to the $500 million investment in OneWeb. Beckett said that there were "significant downside risks" to the investment and that "the central case is marginal." Business Secretary Alok Sharma overrode those objections and approved the deal.| <<previous article | next article>> |
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Monday, October 26
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