After the failed launch of the EU's Galileo satellite navigation system, the UK decided to replace
If the American Bankruptcy Courtapproves the application, the UK will pay $ 500 million for a share of about 45%, another 45% will be bought by Indian telecommunications company Bharti Airtel. They will finance the full resumption of OneWeb, the company said. The deal is expected to close by the end of 2020.
Earlier, the government planned to build its ownreplacing the Galileo system with other Five Eyes members - Australia, Canada, New Zealand and the USA. The project was suspended in May before the publication of a feasibility study. The estimated cost of the project by that time had grown to 5 billion pounds (6.2 billion US dollars).
OneWeb went bankrupt. She wanted to create a global Internet by 2027
Formerly a British telecommunications companyOneWeb filed for bankruptcy. This became known from a statement that the company sent to the Bankruptcy Court of the Southern District of New York. The same document can be found on the OneWeb website. This happened after the company was unable to coordinate financing with investors due to the global crisis caused by the coronavirus pandemic.
OneWeb was committed to 2027to provide full coverage of the Earth with satellite Internet. To do this, they wanted to launch about 900 satellites into low orbit. Project investors included Virgin Holdings by Richard Branson, Qualcomm, AirBus, Japanese investment company SoftBank and Coca-Cola.
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