Main Engine Cut Off

OneWeb Refutes Reuters’ Report

This statement is extremely oddly placed on OneWeb’s site, but here’s their statement:

Recently, certain press reports have emerged suggesting that OneWeb offered to sell a stake in the Company to the Russian Government. OneWeb has not offered to sell any stake in OneWeb to the Russian Government.

OneWeb is in the process of restructuring its existing commercial joint venture with its Russian partner, Gonets, to comply with certain regulatory requirements in Russia. The joint venture is solely for the commercialization of OneWeb’s satellite broadband services to customers in Russia. The joint venture will not have access to OneWeb's satellite technology or related know-how. The restructuring will result in Gonets owning a majority of the joint venture.

Props to Reuters for posting a full story with the update, rather than posting it as an update on the original story, or going full Bloomberg.