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UK government set to join bid for OneWeb

The UK government is prepared to invest as much as £500 million in beleaguered satellite firm OneWeb as it seeks to create a global satellite navigation system after Brexit.

British firms have been excluded from the EU’s Galileo project, which is building a European alternative to the US Global Positioning System (GPS) and Russia’s GLONASS. However the development of a British venture from scratch would incur costs of several billion pounds.

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