Hyperdrive
Britain Makes Risky Bet Reviving Bankrupt Satellite Firm OneWeb
- Bailout in partnership with Bharti shows U.K. space ambitions
- Backers see potential niche in competition with Musk, Bezos
OneWeb was established in 2012 to build a constellation of small satellites beaming internet connections to isolated places from low-earth orbit.
Photographer: Sarah L. Voisin/The Washington Post/Getty ImagesThis article is for subscribers only.
Satellite operator OneWeb emerged from bankruptcy on Friday after being rescued by the British government, signaling a more interventionist industrial strategy after Brexit.
The $1 billion takeover in partnership with India’s Bharti Global breaks with the U.K.’s traditional hostility to state involvement in private markets. The shift may help explain why Boris Johnson’s government is demanding more flexibility on state aid for companies in its talks with the European Union.