March 19, 2020 / 10:03 PM / 21 days ago

SoftBank-backed OneWeb considers filing for bankruptcy - Bloomberg News

OneWeb, the satellite operator backed by SoftBank Group Corp , is considering a possible bankruptcy filing to address a cash crunch, Bloomberg News reported on Thursday, citing people familiar with the matter.

The company is considering seeking court protection even as it continues to review possible out-of-court options, the report said. (bloom.bg/3a4qvxh)

SoftBank did not immediately respond to a request for comment. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

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