India’s Bharti targeting collapsed satellite operator OneWeb

India’s Bharti targeting collapsed satellite operator OneWeb

Indian conglomerate Bharti is looking to bid for collapsed satellite operator OneWeb, in a consortium supported by the UK govt. OneWeb filed for Chapter 11 bankruptcy in March after its largest investor SoftBank stopped funding. OneWeb, was founded in 2014 by Wyler, and planned to launch 650 satellites into low earth orbit to provide universal internet but has been constantly struggling for funds.

Milan
Milan
Chris
Chris 0 months

While on one hand, India's GDP is among the hardest hit by the pandemic with hundreds of people perishing due to the lockdown, on the other hand, companies like Jio and Bharti are consolidating on multimillion dollar acquisitions and mergers. Gives us a glimpse into the heavily unequal society that India is.

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