From $3.4B down & out in Chapter 11 to $2.7B in equity & no debt: How & why the UK government rescued OneWeb

by Peter B. de Selding

PARIS — The story of how the British government swooped in to rescue the bankrupt, certainly-not-British OneWeb broadband satellite constellation from rapacious Americans, unpalatable Chinese and intolerable Europeans will long animate cocktail hours in London.

Pieces of it have been outlined by OneWeb Chairman Sunil Bharti Mittal, whose Bharti Global is now OneWeb’s biggest shareholder:

OneWeb’s former chief executive has spoken of where the idea germinated:  (Hint: Washington, DC):

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