This story reeks of scam.
OneWeb's plan is similar to SpaceX. However, the company confirmed that it only wants to send around 648 satellites at 1,200 kilometers in orbit to provide the places that badly need internet service.
Unlikely they can compete on launch cost and their target customer is the least profitable segment where competition already exists with starlink.
Additionally, if they want to compete with starlink, you have to have a large number of sats to allow for highly parallel communication before it ever goes back to ground. This is the big performance win.
Their business model is a more expensive service, where competition exists, with higher launch costs, with customers who are least able to pay.
Something else is going on here.
OneWeb exists to steal UK gov money in the name of national security
That's believable.
the question is what is the true application of their business?
Could be a boiler room stock issue, then they go bankrupt, or they could be looking to get some ruling to force Starlink to let them use their equipment because Starlink is a "monopoly".
OneWeb is UK-based.
Stocks are issued in the UK. Their government is very open to the bitchings of "this foreign company is stealing profits from us, a UK company that we just setup, because they don't have to pay our loicenses. Please, give us tax payer money so we can compete and go public. Please, make them pay us royalties for providing a service to people in our country that we are incapable of providing".
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