Senior official raised concerns with Alok Sharma over £400m satellite deal
by PA Media from on (#561VJ)
OneWeb went bankrupt this year while trying to develop space network to deliver broadband
The business secretary, Alok Sharma, overrode the concerns of his senior official when the government took a 400m stake in the failed satellite company OneWeb.
The UK is part of a consortium with India's Bharti Global which won a bidding war for the company, which went bankrupt earlier this year while trying to develop a space network to deliver broadband.
Continue reading...