Indian conglomerate Bharti and the British government have won an auction for collapsed satellite broadband operator OneWeb, a person familiar with the situation told Reuters.
Prime Minister Boris Johnson’s government has pledged GBP 500 million (roughly Rs. 4,650 crores) in equity and the two groups are talking to other investors about entering the consortium. The UK is expected to hold around a 20 percent stake.
The person was speaking on the condition of anonymity because the details have not been made public.
© Thomson Reuters 2020