UK senior civil servants have formally warned the government that its commitment to put $500 million into a joint venture with Bharti Global to buy bankrupt satellite operator OneWeb has a high risk of losing all the investment. OneWeb is currently totally unprofitable and it is likely to need considerable further investments for satellite building […]
OneWeb, now in the process of being acquired by the British government and Indian telco giant Bharti Global, is going ahead with building satellites ahead of any decision to incorporate the UK’s plans for a rival global positioning system to rival Europe’s Galileo. OneWeb’s bankruptcy court permitted the British and Indian joint-venture, (called ‘BidCo 100’) […]
Japanese conglomerate SoftBank is reportedly looking to sell or restructure its stake in UK chipset maker ARM. The WSJ reports that ARM has already announced plans to restructure itself by shifting two of its Internet of Things businesses into SoftBank. SoftBank acquired ARM some 4 years ago paying $32 billion for the business but is […]
OneWeb is now well on its way to being bought by a joint-venture between the UK government and India telco Bharti Global. A US bankruptcy court approved the sale of OneWeb to the consortium on July 10th in return for a guaranteed $1 billion sum which will be paid 50/50 by the UK and Bharti. […]
Alok Sharma, the UK’s Secretary of State for Business, Energy and Industrial Strategy (BEIS), and the man about to be responsible for running the UK’s arm of OneWeb, told a House of Commons all-party BEIS scrutiny committee that utilising OneWeb as a replacement for Europe’s Galileo GPS system was not key to the acquisition. However, […]
The joint bid for OneWeb’s assets by the UK government and India telco giant Bharti should get outline approval from the New York Southern District Bankruptcy Court today, July 10th. There are still a few formal logistical steps to be negotiated and the purchase is not likely to be totally signed off until November 27th […]
A UK parliamentary sub-committee is asking some tough questions of the British government about its commitment to buy OneWeb out of bankruptcy. The government’s Dept. of Business Energy and Industrial Strategy (BEIS) was posed the questions by the all-party subcommittee (“the Business, Energy and Industrial Strategy Select Committee”) which is chaired currently by a Labour […]
The Inmarsat and Deutsche Telekom-developed European Aviation Network (EAN) is open to all aircraft including those registered or operating out of the UK as well as the other 27 European nations plus Norway and Switzerland. A recent report suggested that there might be problems for a rival UK service to Europe’s Galileo satellite positioning system […]
The British government is spending an initial $500 million (€444.9m),to take a reported 45 per cent stake in the consortium which includes Indian giant telco Bharti Global (paying a similar sum for a 45 per cent holding) to acquire bankrupt satellite constellation OneWeb Global Ltd. The UK has confirmed it will receive a “significant equity […]
Ottawa-based Telesat has reportedly entered a bid for OneWeb’s satellite assets. But it isn’t alone. There will be an auction process on July 2nd in New York. The UK is widely reported to have committed to a $500 million (£405m) participation for a 20 per cent stake in OneWeb. The UK bid is said to […]