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UK government Purchases chunk of Broke Starlink Competition, OneWeb

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Promotional image of Web device.

Expand / / A OneWeb receiver. (charge: OneWeb)

The UK has now entered the {} race to develop into a international satellite Internet supplier after taking charge of failed distance startup OneWeb together with Indian billionaire Sunil Bharti Mittal.

Even the low-Earth-orbit-satellite operator emerged from Chapter 11 bankruptcy protection Friday and will now find an additional $1.25 billion through equity or debt to reach its challenging medium-term aim of starting a international business online support by 2022 focusing on distant places.

It’ll face well-funded competitions, such as ventures headed by SpaceX’s Elon Musk along with Amazon’s Jeff Bezos.

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