UK government and India's Bharti Enterprises win an auction for bankrupt satellite broadband operator OneWeb for $1B; the parties will own a 45% stake each
Financial Times
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Discussion
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@oneweb
@oneweb
on x
We are excited to announce that a consortium of @beisgovuk & Bharti Global have committed to provide more than USD$1 billion to acquire OneWeb and fund the full restart of our business operations. (1/7)
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@djsnm
Scott Manley
on x
The earlier stores about this being a replacement for Galileo were clearly poorly reported. This acquisition is a joint venture with Bharti Airtel. Oneweb went bankrupt after SoftBank pulled its funding due to market concerns driven by COVID-19 https://twitter.com/...
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@faisalislam
Faisal Islam
on x
Government confirms £500m purchase out of bankruptcy of network of low earth orbit satellites in conjunction with Indian mobile phone company Airtel, in an attempt to replace its participation in the EU Galileo medium orbit system, after Brexit https://www.gov.uk/...
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@aloksharma_rdg
Alok Sharma
on x
Our acquisition of @OneWeb today underlines the scale of Britain's ambitions on the global stage. With access to a fleet of satellites, we will boost broadband, jump-start British manufacturing and put the UK at the cutting-edge of the latest advances in space technology 🛰️ https…
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@cer_ianbond
Ian Bond
on x
Whatever the virtues of OneWeb, this is bait & switch: UK gov't said it wd develop an indigenous alternative to Galileo for navigation, but seems to have bought half of a satellite broadband system instead. So will we go back to reliance on Galileo + GPS for mil & civ navigation?…
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@spacegovuk
UK Space Agency
on x
The government has increased ambitions for space and we are working to strengthen our national capabilities, create high-skilled jobs and drive further growth in the UK space sector. 🛰️ #UnleashingInnovation | @OneWeb https://www.gov.uk/...
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@clairecoutinho
Claire Coutinho MP
on x
From Coronavirus vaccine production to high speed internet satellites - exciting to see 🇬🇧 🇮🇳 partnerships paving the way for world-leading innovation. UK to enter satellite race after winning bid for OneWeb https://giftarticle.ft.com/...
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@pickardje
Jim Pickard
on x
Breaking: UK to challenge Elon Musk's Starlink in race to beam high-speed internet connections from space after government's joint bid with India's Bharti Enterprises won auction for satellite broadband operator OneWeb. - announcement expected midday https://www.ft.com/...
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@lindayueh
Linda Yueh
on x
UK is set to go head to head with Elon Musk's Starlink in the race to beam high-speed internet connections from space after the UK government's joint $1bn bid with India's Bharti Enterprises won an auction for satellite broadband operator OneWeb. https://www.ft.com/...