Concerns for £500m satellite stake | News – The Times

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Doubts have been cast on a government proposal to buy a stake in a private US satellite company.

Boris Johnson is poised to secure the $500 million part-purchase of One-Web as the first step in creating a British rival to the EU’s Galileo.

The UK-headquartered company filed for bankruptcy in March, partly because of the pandemic, and has received interest from other states, including China. Officials said that the UK bid was at an advanced stage.

Britain needs its own satellite navigation system because the EU has denied access to military aspects of the Galileo project. Britain is reliant on the US GPS system, which Galileo is set to replicate.

OneWeb has 74 of a planned 650 satellites in orbit and claims it will be

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