US satellite startup offering Russia a minority stake: report

An internet satellite startup firm in the U.S. is reportedly offering a minority stake to Russia in a move to get Moscow's support for the project.

OneWeb offered Moscow a 12.5 percent stake in exchange for approving the company's appeal for a frequency band in Russia, according to Reuters, which cited three anonymous sources. 


The company reportedly made the offer during a meeting earlier this year with Prime Minister Dmitry Medvedev, and Russia is still considering the offer. The Kremlin would also get representation on OneWeb's board if it takes the stake.

OneWeb wants to launch almost 900 satellites that would provide broadband internet access across the world.

Reuters noted that Russia’s Federal Security Service (FSB) earlier this year came out against the startup over national security fears.

OneWeb is reportedly  looking for Russian support because Russia has areas where high-speed broadband isn't available and because the company needs the  space agency Roscosmos's help to launch satellites into orbit.

OneWeb spokesman Christopher Torres told Reuters that the company “has ongoing discussions with virtually every country in the world," but declined to comment further.