UK government, rushed to judgment about OneWeb, had many doubts on financial prospects before making its purchase

by Peter B. de Selding

PARIS —The British government had decidedly mixed views about the financial wisdom of investing $500 million in the bankrupt OneWeb Global Ltd. satellite broadband constellation startup, views that were overruled by strategic and geopolitical considerations, according to government written correspondence.

The series of letters between government officials also highlights the fact that the government came late to the OneWeb bankruptcy and had insufficient time to analyze it before the bankruptcy court-imposed auction deadline.

The correspondence was released July 22 by Darren Jones, chair of the UK . . .

To view the entire article, become a subscriber!

You may also like