Main Engine Cut Off

OneWeb Offering Russia 12.5% Stake

As if there wasn’t enough mystery as to what’s up with OneWeb lately, Maria Kolomychenko has an exclusive over at Reuters:

OneWeb has offered the Russian government the option of buying a 12.5-percent stake in the company in exchange for approving its request for a frequency band in the country, said the three sources, including one in the Kremlin. The offer was made at a meeting with Prime Minister Dmitry Medvedev earlier this year, they added.

If Russia buys a minority stake in OneWeb, it would be represented on the company’s board of directors and have access to the project’s technical documentation, the sources said.

I can’t imagine there will be too many US customers happy with that scenario.