Indian investor Sunil Mittal has submitted a bid for OneWeb, through his company Bharti Enterprises, reports Bloomberg. The offer has the backing of the UK government, people familiar with the matter said.
The UK government plans to commit around USD 500 million to OneWeb, according to earlier reports. This is part of a larger financing package with other investors to help the company emerge from bankruptcy protection. Bids for OneWeb were due on 26 June.
Bharti Enterprises participated in a 2015 funding round for OneWeb alongside other investors including Qualcomm, Virgin Group and Airbus. OneWeb formed an alliance in 2018 with partners including Delta Air Lines, Bharti Airtel and Sprint to allow wireless carriers to extend their service into airplane cabins.
The UK government declined to comment on the report, saying only that it maintains an interest in supporting the space sector in the country.
