• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • NEWS:
  • SatNews
  • SatMagazine
  • MilSatMagazine
  • SmallSat News
  • |     EVENTS:
  • SmallSat Symposium
  • Satellite Innovation
  • MilSat Symposium

SatNews

  • HOME
  • Magazines
  • Events
  • SmallSat Europe Insights
  • Industry Calendar
    • IN PERSON
    • VIRTUAL
  • Subscribe

The UK + India Sole Bidders for OneWeb Assets

July 3, 2020

Seemingly, the UK and India were the solitary joint bidder for OneWeb’s assets.

The UK government, in a statement on July 3rd, said it would provide $500 million (€444.9 million), as would Indian telco Bharti Global, in the bid for OneWeb’s assets. Business Secretary Alok Sharma said it would help deliver the “first UK sovereign space capability. Our access to a global fleet of satellites has the potential to connect millions of people worldwide to broadband, many for the first time, and the deal presents the opportunity to further develop our strong advanced manufacturing base right here in the UK.”

The UK announcement from the Department for Business, Energy and Industrial Strategy (BEIS) talked about it being a “significant” stake in OneWeb as well as developing a “strong manufacturing base right here in the UK”, which implies that OneWeb’s expensive satellite building joint-venture facility in Florida with Airbus will be relocated.

It is also reported that Canadian and assorted other potential bidders, including Chinese, all pulled out of the auction.

Richard Franklin, MD/Airbus Defence and Space UK, said, “The news that the UK Government backed bid for OneWeb is likely to be successful is good news for the space sector in the UK. Space is not only critical to our national infrastructure but also provides thousands of day-to-day benefits. The UK Government’s vision in backing this project will drive innovation and new ways of thinking about how space can contribute even more to the UK economy, and the country’s defense requirements, as well as playing a part in delivering broadband Internet to communities across the country. We look forward to supporting OneWeb in the next phase of their business and growing the UK contribution to this market changing business.”

Adrian Steckel, CEO of OneWeb, stated, “We are delighted to have concluded the sale process with such a positive outcome that will benefit not only OneWeb’s existing creditors, but also our employees, vendors, commercial partners, and supporters worldwide who believe in the mission and in the promise of global connectivity.”

The bid is not quite in the bag, given that OneWeb’s bankruptcy court is allowing objections to the sale to be made by July 8th. More clarification will emerge on July 10th from the court.

Chris Forrester

Article posted by journalist Chris Forrester at the
Advanced Television infosite.
Chris is also a Senior Contributor for Satnews Publishers.

Filed Under: Acquisitions, Business Moves

Primary Sidebar

Most Read Stories

  • In celebration of Juneteenth
  • Wishing Everyone a Happy July 4th … Independence Day, U.S.A.
  • Eutelsat's efforts to obtain funding to save OneWeb
  • Forrester's Digest: Starlink active in Iran
  • Startical launches the firm's 2nd demo satellite — IOD-2

About Satnews

  • Contacts
  • History

Archives

  • July 2025
  • June 2025
  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020

Secondary Sidebar

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.
x
Sign up Now (For Free)
Access daily or weekly satellite news updates covering all aspects of the commercial and military satellite industry.
Invalid email address
Notify Me Regarding ( At least one ):
We value your privacy and will not sell or share your email or other information with any other company. You may also unsubscribe at anytime.

Click Here to see our full privacy policy.
Thanks for subscribing!