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India's Bharti and British government bag auction for collapsed satellite broadband operator OneWeb

Shortpedia

Content Team

The auction for collapsed satellite broadband operator OneWeb has been bagged by Indian conglomerate Bharti and the British government. OneWeb filed for Chapter 11 bankruptcy at the end of March after its biggest investor SoftBank Group Corp denied funding. The British government has pledged 500 million pounds ($623 million) in equity and the two groups are talking to other investors about entering the consortium.