OneWeb expects to receive bids for its spectrum starting mid-May, conclude auction in June

by Peter B. de Selding

PARIS — OneWeb Global Ltd. plans to conclude the sale of its licensed radio spectrum by late October under a scenario agreed to by the company’s U.S. Chapter 11 bankruptcy court as a condition of making cash immediately available to the company.

The bankruptcy court on April 1 approved OneWeb’s request for $500,000 to spend immediately to keep the business running at a minimal level after the startup broadband satellite constellation operator had laid off 90% of its employees.

Up to $2.5 million . . .

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