UK Buys £400m Stake in Failed Space Startup

UK buys £400m stake in failed space startup
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The UK government announced it will invest $500m (£400m) and take a “significant equity share” in OneWeb, a British company which develops satellite technology, as part of a consortium which also includes India’s Bharti Global. The consortium won a bidding war for the company, which went bankrupt earlier this year while trying to develop a space network to deliver broadband. Back in March, OneWeb said it was laying off the majority of its staff while it seeks a buyer and filing for bankruptcy protection in the […] OneWeb’s satellite operations centre. Photo: Sarah L. Voisin/The Washington Post via Getty Images

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