UK set to embark on space odyssey with SoftBank-backed OneWeb deal

UK set to embark on space odyssey with SoftBank-backed OneWeb deal

Photo: Pixabay

Britain is betting that satellite operator OneWeb will help it boldly go into a post-Brexit era. But it faces formidable challenges to complete a working constellation and rebuild a collapsed venture that has proved a money pit for investors.

The British government and Indian telecoms conglomerate Bharti Enterprises said last week they would together put up $1 billion to buy OneWeb, which filed for bankruptcy after its biggest backer, SoftBank Group, declined to provide fresh funding.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter