Chris Forrester, the lead journalist for the Advanced Television infosite, is reporting that Japanese investment fund SoftBank has written down the value of its significant stake in satellite constellation OneWeb by £380 million (€414.7m).
OneWeb has also attracted investment cash from Virgin Group, Airbus and others, and while it already has six trial satellites on-orbit, plans are to increase the fleet by about 650 satellites over the next two years.
SoftBank, via its Vision Fund, has invested two major tranches of cash into OneWeb. As part of its initial funding, the company received around $1 billion from the Japanese bank in 2015 plus an additional $1.25 billion earlier this year.
Softbank owns some 47 percent of OneWeb, according to filings with UK regulators.
For all involved in the satellite and space industry and the various market segments that add value to these dynamic environments, the 2020 SmallSat Symposium is truly worth your consideration for attendance.
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