- Russian Gonets, UK OneWeb Joint Venture to Have No Access to OneWeb Technology - Company
Russian Gonets, UK OneWeb Joint Venture To Have No Access To OneWeb Technology - Company
Daniyal Sohail 3 months ago Sat 29th December 2018 | 05:34 PM
A joint venture of Russian company Satellite System Gonets a subsidiary of state space corporation Roscosmos and UK OneWeb will have no access to the UK company's technology because it was created for the sole purpose of selling OneWeb services in Russia, the UK company said.
MOSCOW (UrduPoint News / Sputnik - 29th December, 2018) A joint venture of Russian company Satellite System Gonets a subsidiary of state space corporation Roscosmos and UK OneWeb will have no access to the UK company's technology because it was created for the sole purpose of selling OneWeb services in Russia, the UK company said.
The joint venture was established in 2017, with the UK company receiving 60 percent of the shares and Gonets obtaining the other 40 percent. The venture is now being restructured and the Russian company is set to become the owner of the majority of its shares. At the same time, OneWeb has refuted reports claiming that it had offered some of the shares to the Russian government.
"OneWeb is in the process of restructuring its existing commercial joint venture with its Russian partner, Gonets, to comply with certain regulatory requirements in Russia. The joint venture is solely for the commercialization of OneWeb's satellite broadband services to customers in Russia.
OneWeb is currently implementing its project aimed at creating a constellation of hundreds of communication satellites that would provide broadband internet access worldwide. The company initially planned to launch around 900 satellites but has recently decided to reduce the constellation to 600.
In the meanwhile, the company has so far failed to obtain the necessary frequencies to start operating in Russia. The Russian Federal Security Service said in October that Moscow could not verify the company's claims that the satellite constellation project would not be used for gathering intelligence.