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South Korean Hanwha buys 8.8% stake in OneWeb

Athens, 12 August 2021. – The South Korean technology and manufacturing conglomerate Hanwha Systems buys an 8.8% share in OneWeb for $300 million, the London-based satellite operator said.

Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb, alongside relationships to new government customers and expanded geographical reach, OneWeb said.

The investment brings OneWeb´s total equity investment since the end of 2020 to $2.7 billion. It is expected to be completed in the first half of 2022, the LEO operator said.

OneWeb’s first-generation fleet of 648 satellites will deliver global coverage in 2022 and is fully funded, the company added. OneWeb has launched 254 satellites to date, with another launch planned for August from Baikonur, Kazakhstan.

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