2
Since the UK’s purchase of OneWeb, the number of shareholders has continued to grow.
Recommendation
Since the UK’s purchase of OneWeb, the number of shareholders has continued to grow. Although the Government has provided assurances that the proposed merger with Eutelsat will not affect the UK’s shares and involvement in OneWeb, uncertainty remains over how the continued changing ownership will affect its management. The proposed merger with Eutelsat must be subject to proper scrutiny under the National Security and Investment Act and the Government must provide assurance that OneWeb’s operations in the UK will not be affected by the merger. Further, if the merger goes ahead, the National Audit Office should consider carrying out an assessment of the how well the taxpayer’s investment has been protected to date and review the economic viability of continuing to hold shares in OneWeb.
Paragraph Reference
27
Government Response
A response document is linked to this report, dated 30 March 2023. Response attribution to this recommendation has not been verified. Read the response document.
Source
Report
Second Report - UK space strategy and UK satellite infrastructure
04 Nov 2022
HC 100
Addressee Bodies
Department for Science, Innovation and Technology
Timeline
Recommendation age
3.9 yrs
Report published
04 Nov 2022