UK, Indian firm salvage satellite operator OnewebThe deal is aimed at delivering Britain's "first UK sovereign space capability"LONDON - The UK government and Indian telecoms giant Bharti are to take control of the collapsed satellite firm Oneweb, they said Friday, as Britain seeks to expand its post-Brexit space capabilility. The deal is aimed at delivering Britain's "first UK sovereign space capability," the statement said. "The deal will support the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies, whilst boosting UK manufacturing," the spokesman said. "It will also allow the UK to explore other potential strategic opportunities, working with our international allies." Oneweb added in a separate statement that the rescue deal would help it emerge from bankruptcy with a "robust foundation" to continue commercial operations.

Source: Bangkok Post July 03, 2020 14:37 UTC