March 19, 2020 / 11:29 PM / 11 days ago

SoftBank-backed OneWeb considers filing for bankruptcy: Bloomberg News

OneWeb, the satellite operator backed by SoftBank Group Corp (9984.T), is considering a possible bankruptcy filing to address a cash crunch, Bloomberg News reported on Thursday, citing people familiar with the matter.

The company is considering seeking court protection even as it continues to review possible out-of-court options, the report said. (

A SoftBank spokeswoman declined to comment, while OneWeb did not immediately respond to Reuters request for comment.

Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur

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