PARIS — The U.S. bankruptcy court handling OneWeb Global Ltd.’s Chapter 11 procedure gave initial approval of the proposed OneWeb purchase by the British government and Bharti Global, but it will be several months before the transaction closes.

The UK and Bharti, operating together under the name BidCo 100 Ltd., will now begin making funds available to continue OneWeb’s operations, gradually replacing the Debtor-in-Possession lenders led by SoftBank Group:

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