Existing backer Hughes Network Systems has committed $50m to join Bharti Enterprises and the UK government in acquiring the bankrupt satellite internet services provider.
Broadband satellite network operator Hughes Network Systems yesterday committed $50m to join conglomerate Bharti Enterprises and the UK government in purchasing UK-based satellite internet services provider OneWeb.
Bharti Enterprises’ UK subsidiary, Bharti Global, and the British government, represented by the Secretary of State for Business, Energy and Industrial Strategy – a position currently held by Alok Sharma – made a winning $1bn bid for the bankrupt business earlier this month.
The acquisition remains subject to certain conditions, including those…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
