US Satellite Service Offers Minority Stake to Russia

US satellite startup OneWeb has reportedly offered the Russian government a 12.5 percent stake to allay Moscow’s concerns about the firm’s plan to create a satellite-powered worldwide internet network.

However, the Federal Security Service (FSB) previously objected against the project on the grounds of national security, saying that it could be used to gather intelligence.

It was noted that Russia is an important market for OneWeb project since it has a lot of remote areas without high-speed broadband. The startup also needs the assistance of Russian space agency Roscosmos to send satellites into orbit.

Source: Reuters

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