July 03 - 15:07
32D
UK spends $500 million on satellite tech firm OneWeb
The UK government has paid $500 million (£400 million) acquire a 50% stake in OneWeb, a developer of satellite technology. The UK was part of a consortium led by Bharti Global, which has also invested $500 million. The deal will enable the OneWeb to complete construction of a global satellite constellation that will provide enhanced broadband and other services to countries around the world.
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