Japanese investment fund SoftBank has written down the value of its significant stake in satellite constellation OneWeb by £380 million (€414.7m).

OneWeb has also attracted investment cash from Virgin Group, Airbus and others, and while it already has 6 trial satellites orbiting, plans on increasing the fleet by about 650 satellites over the next 2 years.

SoftBank, via its Vision Fund, has invested two major tranches of cash into OneWeb. As part of its initial funding it received around $1 billion from the Japanese bank in 2015 plus an additional $1.25 billion earlier this year.

Softbank owns some 47 per cent of OneWeb, according to filings with UK regulators.

Other posts by :

1. SES predicts end of ‘big’ Geo satellites
2. Amazon Leo gets approval for 4,504 extra satellites
3. SpaceX gets a portion of India
4. TerreStar wants to build LEO network
5. Musk: “No Starlink phone”
6. Russia accused of eavesdropping on satellites
7. FCC welcomes Musk’s 1m satellite plan
8. Telesat has problems with an LEO
9. Orbital debris a real danger 

Categories: Articles, Broadband, Business, Satellite