Space tycoon Charlie Ergen to invest £39m in Oneweb

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Space tycoon Charlie Ergen to invest £39m in satellite broadband firm rescued by Government

Space tycoon Charlie Ergen is to invest £39m in a satellite broadband firm rescued by the Government. 

The American billionaire is joining a consortium behind Oneweb that also includes India’s Bharti Global. 

It is part of efforts to create a home-grown alternative to the US military’s GPS service and Europe’s Galileo programme, which the UK has been excluded from because of Brexit. 

Sky’s the limit: Oneweb is part of efforts to create a home-grown alternative to the US military’s GPS service and Europe’s Galileo programme

Ergen, 67, will invest the money  into Oneweb through Hughes Network Systems, a subsidiary of his company Echostar. 

The UK acquired a controlling share in collapsed Oneweb at an auction in New York earlier this month. It pledged £400m that was matched by Bharti.

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