OneWeb: Government Shareholding

Department for Business, Energy and Industrial Strategy written question – answered on 25th January 2022.

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Photo of Lord Bowness Lord Bowness Non-affiliated

To ask Her Majesty's Government whether their golden share in OneWeb enables them to influence policy decisions, or whether they are limited to preventing disposals of shares; what percentage of the share capital in OneWeb they hold; and what financial benefits have been received since their purchase of the company.

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

The Government’s golden share in OneWeb provides us with the final say over any future sale of the company and over future access to OneWeb technology by other countries on national security grounds. The Government will own an approximate 17.6% stake in OneWeb when Hanwha System’s investment closes later this year.

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