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SoftBank’s OneWeb to Consider Bankruptcy as Cash Dwindles

  • Company makes satellites for high-speed communications
  • Business faces high-profile competition, uncertain regulation
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Source: OneWeb

OneWeb, the satellite operator backed by SoftBank Group Corp., is mulling a possible bankruptcy filing to address a cash crunch as it grapples with high costs and stiff competition, according to people with knowledge of the preparations.

The company is considering seeking court protection even as it continues to review possible out-of-court alternatives, said the people, who asked not to be named discussing private company plans.