OneWeb Partner To Drop $50M Into New Telecom Venture
Law360 (July 27, 2020, 4:58 PM EDT) -- The ground service provider for bankrupt satellite internet service OneWeb said Monday it plans to invest $50 million in the partnership between the U.K. government and an Indian telecom company that purchased the defunct company's network for $1 billion.
Maryland-based Hughes Network Systems, which had been the distribution partner for OneWeb's planned global satellite broadband internet network, said it had "agreed in principle" to invest in the joint venture between the British government and Bharti Global Ltd., which placed the highest bid for OneWeb's assets in a Chapter 11 auction earlier this month.
"We look forward to doing our part in...
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