London: The government of the UK and Indian telecoms giant Bharti are to take control of collapsed satellite firm OneWeb, they said Friday, as Britain tries to extend its post-Brexit space capacity.
Britain’s and Bharti will each contribute $500 million (444 million euros) into OneWeb, the UK government said in an announcement, after it withdrew the European Union’s Galileo satellite program with its exit from the coalition prior this year.
The arrangement is planned for conveying Britain’s “first UK sovereign space capacity” since it left from the EU on January 31, stated on Friday.
“The move signals the government’s ambition for the UK to be a pioneer in the research, development, manufacturing, and exploitation of novel satellite technologies through the ownership of a fleet of Low Earth orbit satellites,” it added.
England will take a “significant” value share in the organization, while Bharti will give business and operational initiative to the endeavor.
