As per industry sources, the consortium formed by India based Bharti Group and the British government has won the auction for the assets of satellite broadband operator OneWeb, which had filed for bankruptcy protection in May 2020.

According to US bankruptcy court filings, OneWeb has assets in the range of $1 billion to $10 billion and liabilities in the same range.

As earlier reported, the British government has pledged 500 million pounds ($623 million) in equity and the two groups are in discussion with other investors regarding their inclusion in the consortium. The UK is expected to hold around a 20 per cent stake.