Bharti, a multinational conglomerate, agreed to acquire a minority stake in OneWeb, a communications company, for $500m. "OneWeb represents a unique opportunity for investors at a key moment in the commercialisation of space. With its Global ITU LEO Spectrum priority, Telco partnerships, successful launch momentum, and reliable satellites, OneWeb is ready to serve the vital needs of high-speed broadband connectivity for those who have been left behind. Nation states can accelerate their universal service obligations, Telcos, their backhaul, and Enterprise/Governments can serve remote installations," Sunil Bharti Mittal, OneWeb Executive Chairman.