The UK government has led a consortium to buy the satellite firm OneWeb after it filed for bankruptcy earlier this year. The government has paid $500 million and the private sector chipped in too.
Several months after OneWeb filed for bankruptcy, the UK government has now announced that it has acquired the firm by means of a government-led consortium. It has provided $500 million while Bharti Global has stumped up a further $500 million. According to the announcement, the acquisition puts the UK “at the cutting-edge of the latest advances in space technology.
