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This story is from April 28, 2021
Bharti-backed OneWeb gets new $550mn funding
NEW DELHI: Bharti groupbacked OneWeb said it has secured $550 million in funding from Eutelsat Communications. This brings OneWeb’s total funding to $1.9 billion in fresh equity.
Eutelsat, a leading satellite operator, will receive a 24% equity stake in OneWeb and similar governance rights to the UK government and Bharti Global, making it a significant equity partner. The investment is expected to be completed in the second half of 2021, subject to regulatory approvals.
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Eutelsat, a leading satellite operator, will receive a 24% equity stake in OneWeb and similar governance rights to the UK government and Bharti Global, making it a significant equity partner. The investment is expected to be completed in the second half of 2021, subject to regulatory approvals.
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