Satellite push: Bharti-led consortium wins bid for OneWeb

Sunil Mittal-led Bharti Enterprises, in a consortium involving the UK government, on Friday won the bid for satellite firm OneWeb. The UK government and Bharti Enterprises will each invest $500 million in this satellite technology project. Bharti will also rope in other investors.

Bharti will provide the company commercial and operational leadership and bring OneWeb a revenue base to contribute towards its future success. The deal will enable the company to complete construction of a global satellite constellation that will provide enhanced broadband and other services to countries around the world.