Oneweb: Investment

Department for Business, Energy and Industrial Strategy written question – answered on 3rd August 2020.

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Photo of Lord Birt Lord Birt Crossbench

To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 15 July (HL6348), how they propose to be publicly accountable for their investment in OneWeb.

Photo of Lord Callanan Lord Callanan Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The deal is subject to certain regulatory clearances and is expected to close before the end of the year.

We will have strong representation on the board, fully involved in setting the strategic direction of the business and developing the company’s business plan.

Mechanisms will be implemented for the continued monitoring and evaluation of the investment.

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