With Bharti Enterprises-led low earth orbit (LEO) broadband satellite communications company OneWeb emerging from US Chapter 11 bankruptcy protection and achieving all relevant regulatory approvals, chair man Sunil Bharti Mittal said that beginning mid-December till October 2021, the company will launch a total 360 satellites to construct a global satellite constellation that will provide enhanced broadband and other services to countries around the world. This would mark the trial test runs.

— The Financial Express

Press release: OneWeb, the Low Earth Orbit (LEO) broadband satellite communications company, announces its emergence from U.S. Chapter 11 bankruptcy protection and achievement of all relevant regulatory approvals. A consortium of UK Government (through the UK Secretary of State for Business, Energy and Industrial Strategy) and Bharti Global, has invested $1bn of new equity to offer broadband connectivity services, via a constellation of 650 LEO satellites.

— OneWeb

Herbert Smith Freehills advised Bharti, and the UK Government consortium led by a team of partner London Alan Montgomery, global head of M&A and partner Gavin Davies and senior associate Siddhartha Shukla.

Weil also advised the UK Government with lawyers David Avery Gee, Mike Francies and Simon Lyell.

Cravath acted as US counsel for Bharti led by lawyers Paul Zumbro, Damien Zoubek and Jed Zobitz.

Milbank represented OneWeb, led by partner Dara Panahy.

2020-11-20

The primary jurisdiction of the deal was UK, US, though one of the primary parties in the deal (Bharti) was Indian.

Deal value: US$1 billion

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