UK lost £340m in OneWeb investment

UK lost £340m in OneWeb investment

The UK government lost more than £340 million (€297.4m) in Eutelsat’s OneWeb Company according to a report in the Sunday Telegraph newspaper. The report states that the investment (of a total of £517 million) was “championed” by Dominic Cummings, at the time an advisor to the Conservative government led by Boris Johnson. The government agreed […]

UK Government Faces £340 Million Paper Loss on Legacy OneWeb Low Earth Orbit Satellite Investment – SatNews

On Monday, July 20, 2026, financial reviews highlighted a significant valuation decline in the United Kingdom government’s sovereign stake in satellite operator Eutelsat OneWeb. According to a report published by […]

Eutelsat/OneWeb: UK’s £500m LEO satellite bet loses two-thirds of ...

As now-parent Eutelsat painfully pivots from geostationary to low Earth orbit infrastructure, the UK’s £342m loss on its controversial OneWeb rescue faces fresh scrutiny. Despite the substantial loss of value, government officials maintain that LEO commitment remains crucial to the nation.