SoftBank, Hughes make $400 mn bet on OneWeb
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The UK government and Mittal s Bharti Global had invested $500 million each to acquire OneWeb under a bankruptcy resolution process. (File Photo: Mint)
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Japan’s SoftBank Group and Hughes Network Systems LLC have invested $400 million in OneWeb, a broadband satellite communications company acquired by a consortium of investors comprising the UK government and Sunil Mittal-led Bharti Global.
The investment will take the total funding in OneWeb to $1.4 billion, a company statement said. The UK government and Bharti Global had invested $500 million each to acquire OneWeb under a bankruptcy resolution process.