• Chethan Machaknur

Sunil Mittal teams up with UK PM Boris Johnson to bid for a satellite firm backed by SoftBank

Sunil Mittal has submitted a bid for OneWeb, the bankrupt satellite firm whose investors include SoftBank Group Corp. OneWeb makes so-called low-Earth orbit satellites that provide high-speed communications.

The UK government plans to commit around $500 million to OneWeb alongside other investors as part of the company’s Chapter 11 bankruptcy proceedings.

Prime Minister Boris Johnson is trying to attract fresh foreign investment from countries including India, China and the U.S. to help offset the U.K.’s departure from the EU.

  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2020 by StartupNews. Proudly created in India