The developer of the satellite system the global Internet, OneWeb, went bankrupt in the beginning of the year, announcedthat it has agreed to purchase business and the continuation of his work. Shares in the company will receive the United Kingdom and the British branch of the Indian company Bharti Enterprises. In total, OneWeb will invest a billion dollars to allow to continue to launch satellites.
OneWeb is a project to create a global system of satellite Internet. To date, the company has launched 74 satellites of the 650 planned. Satellites must be in 12 orbital planes at an altitude of 1200 kilometers. The first batch of satellites launched Roscosmos, he also got most of the contracts for the launches. Despite this, the system in our country is under question: while OneWeb failed to obtain from then State Commission for radio frequencies necessary permissions.
At the end of March OneWeb has announcedthat filed for bankruptcy because it was unable to agree with investors the financing due to the global crisis caused by the pandemic coronavirus. According Finantial Times, the deal fell through for a few hours until the next satellite launch, which then decided not to cancel. The company has applied for a form of bankruptcy that allows you to sell the assets to another organisation that the project was continued.
July 3, OneWeb has announced that the new owners of shares in the company will become the British government and the company Bharti Global Limited. She is a British representation of the Indian conglomerate Bharti Enterprises, in which, in particular, is the third largest mobile operator in the world Bharti Airtel. Each of the new owners will invest $ 500 million.
The exact details of the deal are unknown, but Bloomberg reportsthat the new owners will receive a share of 45 percent, and the remaining 10 percent will go to current investors. Despite the fact that OneWeb, Bharti Global Limited and the British government agreed on the terms, the transaction may reject creditors OneWeb. It is expected that in the coming months the company will continue to bring satellites into orbit.
In a press release OneWeb said that the Indian Bharti Airtel will use the link from the satellite constellation on their networks. The benefit to the British government, in addition to the General strengthening of the presence in space is not called. However, prior to this, experts have repeatedly notedthat it may be connected with plans of great Britain to create its own satellite navigation system, which became known after the EU decided to disable the country from its satellite system Galileo.