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Government-led consortium’s ownership of OneWeb
strengthens UK’s place on the world stage
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Government will provide $500m to deliver first UK
sovereign space capability, alongside $500m from Bharti
Global
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Successful bid puts UK at the cutting-edge of the
latest advances in space technology
The Government has today (3 July) led a successful bid to
acquire OneWeb, which develops cutting-edge satellite technology
in the UK and in the US.
The move signals the Government’s ambition for the UK to be
a pioneer in the research, development, manufacturing, and
exploitation of novel satellite technologies through the
ownership of a fleet of Low Earth orbit satellites.
Business Secretary
confirmed that the Government will invest $500million and take a
significant equity share in OneWeb. This is alongside Bharti
Global Ltd, which is part of a group that controls the third
largest mobile operator in the world. Bharti will provide the
company commercial and operational leadership, and bring OneWeb a
revenue base to contribute towards its future
success.
The deal will enable the company to complete construction
of a global satellite constellation that will provide enhanced
broadband and other services to countries around the
world.
The deal also offers the UK strategic opportunities across
a wide range of other applications, working with our
international allies.
With a sovereign global satellite system, the UK will
further develop its advanced manufacturing base, making the most
of its highly skilled workforce as the hardware is further
developed and equipment and services are deployed to make the
most of this unique capability.
OneWeb will also contribute to the Government’s plan to
join the first rank of space nations, along with our commitment
to making the UK a world leader in science, research and
development.
The deal is subject to US court approval and regulatory
clearances and is expected to close before the end of the
year.
It follows the formation of the UK’s first-ever National
Space Council, chaired by the Chancellor of the Exchequer, to
consider how space policy can enhance the country’s prosperity
and place in the world, as well as our wider national security
interests.
Business Secretary
said:
“This deal underlines the scale of Britain’s ambitions
on the global stage.
“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 space sector is an economic success story, growing
by over 60 per cent since 2010. The sector, which already
supports £300 billion of UK economic activity through the use
of satellite services, is expected to grow further as new
commercial opportunities are unlocked by this agreement.
OneWeb was formed in 2012, and has been developing
cutting-edge satellite technology from its bases both here in the
UK and in the United States.
The UK Government will have a final say over any future
sale of the company, and over future access to OneWeb technology
by other countries on national security grounds.
Notes to Editors:
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Bharti, through Bharti Airtel, is the third largest
mobile operator in the world, with over 425 million
customers. Bharti Airtel has its own extensive mobile
broadband networks and enterprise business, which will act as
the testing ground for all OneWeb products, services, and
applications. Bharti Airtel also operates India's leading
satellite broadcasting service through Airtel Digital TV to
over 16 million house
