British government, Bharti Global commit $500M each to purchase OneWeb out of bankruptcy. Now what?

by Peter B. de Selding

PARIS — The British government and its co-bidder, India’s Bharti Global Ltd. was apparently the only bidder to show up at the OneWeb Global Ltd. auction July 2 in New York, after Canadian and Chinese companies abandoned the effort after showing initial interest, according to industry officials.

The British government said it will provide $500 million to purchase startup satellite broadband constellation operator OneWeb. Bharti Global will also invest $500 million.

“Bharti will provide the company commercial and operational leadership, and bring OneWeb a . . .

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