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Korea’s Hanwha Invests in Satellite Pioneer OneWeb: FT

South Korea’s Hanwha bought an 8.8% stake in OneWeb, the UK-backed satellite internet pioneer rescued from bankruptcy last year, for $300 million, the Financial Times reported.

Along with Elon Musk’s Starlink, OneWeb is at the forefront of a rapidly emerging market for internet and other services from cheaper, lower-flying satellites, the report said. Hanwha’s investment suggests a valuation of about $3.4bn for OneWeb, the report added. Full story: Financial Times.

Also on AF: Elon Musk says his Starlink venture might need $30 billion investment

This story was updated to amend the headline.


Kevin Hamlin

Kevin Hamlin is a financial journalist with extensive experience covering Asia. Before joining Asia Financial, Kevin worked for Bloomberg News, spending 12 years as Senior China Economy Reporter in Beijing. Prior to that, he was Asia Bureau Chief of Institutional Investor for ten years.


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