OneWeb Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Lord Kilclooney
Main Page: Lord Kilclooney (Crossbench - Life peer)Department Debates - View all Lord Kilclooney's debates with the Department for Business, Energy and Industrial Strategy
(4 years, 5 months ago)
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Lord Callanan
As the noble Baroness recognises in her question, this is novel, cutting-edge satellite technology which we are investing in as part of our focused research and innovation in the UK. We want to become a world leader in the space sector, and this provides us with suitable strategic geopolitical opportunities to do so.
Lord Kilclooney (CB)
My Lords, who are the other shareholders in OneWeb? What percentage does each shareholder have? Can the Minister confirm that this investment would not have taken place if we had not left the European Union?
Lord Callanan
Our membership or otherwise of the European Union is not relevant to this discussion. The other shareholders are, as I said, Bharti Global Ltd and some small shareholders. We have an equal shareholding with Bharti Global Ltd and a small shareholding is held by existing OneWeb creditors.