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A consortium led by Bharti Enterprises has won the bid for OneWeb, a bankrupt firm that makes satellites in the UK and the US. Bharti had bid jointly with the UK government for the auction that was seen as “controversial”. They would invest around $500 million each to acquire OneWeb, which had declared bankruptcy earlier this year.
The move may help the consortium to compete with Elon Musk’s Starlink in beaming high-speed internet from space. For telecom major Bharti, it’s also a step towards easy internet connectivity in the hinterland.
For the Sunil Mittal-led group, the deal is perhaps special for other
