The UK is spending $500m (£400m) on a stake in satellite firm OneWeb as part of a plan to replace use of the EU’s Galileo sat-nav system.

OneWeb went bankrupt in March 2020 while trying to build a satellite network to deliver an LEO broadband solution.

The UK is part of a consortium with India’s Bharti Global which won a bidding war for the company.

Business Secretary Alok Sharma said it would help deliver the “first UK sovereign space capability”.

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