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SoftBank, Hughes pump $400m into satellite firm OneWeb

Jan 15, 2021 - Marketline Newswire

Satellite communications company OneWeb has received a $400m funding boost from Japanese conglomerate SoftBank and high-speed satellite internet service firm Hughes Network Systems.

The capital injection brings OneWeb's total funding to $1.4bn and follows a turbulent period for the UK-headquartered company. In 2020 the company filed for bankruptcy and was rescued by the UK government, which took a $500m stake in a bid to replace the use of the EU's Galileo sat-nav system. It joined a conso...