Bharti Global will up its stake in OneWeb, adding another $500 million to bring the satellite company to a fully funded state with $2.4 billion infused since the emergence from bankruptcy.
OneWeb secures funding from Bharti, UK Gov’t
The UK government and Indian telecom giant Bharti Global Limited won the assets of aspiring satellite operator OneWeb in a bankruptcy auction. Each party will invest $500 million in the company as part of the recapitalization plan. Subject to further government and regulatory approvals and funding, OneWeb will resume manufacture, launch and operation of its satellite constellation.