Friday, 03 Jul 2020 10:22 PM MYT
LONDON, July 3 — Britain has joined forces with India’s Bharti Global to buy the collapsed satellite operator OneWeb, with the two sides pledging US$1 billion between them to develop a constellation that could boost broadband and other services. The deal means the two sides will be pitted against Elon Musk’s SpaceX in the race to build low earth orbit satellites to provide high-bandwidth and low-latency communications services.
The deal could provide a boost to Britain’s manufacturing sector, which has endured several years of uncertainty over future trading rules due to Brexit, and has now lost thousands of jobs due to the Covid-19 crisis.