OneWeb collapses after SoftBank funding talks fall through

OneWeb, the satellite internet start-up, filed for bankruptcy and axed most of its staff on Friday, after failing to secure new funding from investors including its biggest backer SoftBank. The company said it would seek a sale after filing for Chapter 11 relief in New York, noting that financial market turbulence related to coronavirus had sunk negotiations over an investment that would have funded its commercial launch. More

(Source: Financial Times - Mar 28)