BUSINESS


OneWeb fully-funded with new US$500 million investment


(29 Jun 2021) OneWeb has secured further fund-raising on the anniversary of the successful bid by UK Government and Bharti Global (Bharti) to purchase OneWeb from U.S. Chapter 11 to bring its total funding to US$2.4 billion. OneWeb has completed its transformation with the exercise of a Call Option by Bharti to invest an additional US$500 million into the company.

The Call Option is expected to be completed in the second half of 2021, subject to regulatory approvals. On completion of the Call Option and with Eutelsat's US$550 million investment, Bharti will hold 38.6%. The UK Government, Eutelsat, and SoftBank will each own 19.3%.

The final shareholding structure may alter to the extent a member of the shareholders' group chooses to exercise a part of this call option.

On completion, OneWeb will have secured US$2.4 billion of equity investment, with no issued debt.

Reference: OneWeb PR

#Bharti  #Eutelsat  #OneWeb  #SoftBank