India's Bharti And UK Win Auction For Satellite Operator OneWeb: Report

OneWeb filed for Chapter 11 chapter on the finish of March.

London:

Indian conglomerate Bharti and the British authorities have received an public sale for collapsed satellite tv for pc broadband operator OneWeb, an individual conversant in the scenario advised Reuters.

Prime Minister Boris Johnson’s authorities has pledged 500 million kilos ($623 million) in fairness and the 2 teams are speaking to different traders about getting into the consortium. The UK is predicted to carry round a 20% stake.

OneWeb filed for Chapter 11 chapter on the finish of March after its largest investor SoftBank Group Corp pulled funding, with an public sale held on Thursday.

The particular person was talking on the situation of anonymity as a result of the small print haven’t been made public.

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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