Satellite communication company OneWeb acquired by UK Government and India based Bharti Global
LONDON, July 3, 2020 -- Satellite communications company OneWeb has entered into an agreement with a consortium led by HMG (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and India based Bharti Global Limited for the acquisition of the OneWeb business.
A consortium of Her Majesty's Government (HMG) (through the UK Secretary of State for Business, Energy, and Industrial Strategy) and Bharti Global Limited has committed to providing more than USD $1 billion funds to restart of its business operations.
OneWeb will look to resume operations as soon as possible and continue with progress towards providing global high-speed, low latency connectivity via its state-of-the-art satellite constellation.
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