SoftBank-backed OneWeb considers filing for bankruptcy

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. (https://bloom.bg/3a4qvxh)

SoftBank did not immediately respond to a request for comment.