SoftBank to concede as OneWeb-Intelsat merger collapses

SoftBank to concede as OneWeb-Intelsat merger collapses

SoftBank Group Corp. Chairman and CEO Masayoshi Son speaks during an earnings briefing in Tokyo, Japan, July 28, 2016. REUTERS/Kim Kyung-Hoon

Japan’s SoftBank Group Corp will let the $14 billion merger between its satellite startup OneWeb and peer Intelsat SA fall through, after failing to get enough of Intelsat creditors to back it, people familiar with the matter said on Wednesday.

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