OneWeb Global Bankruptcy Sale Could Require CFIUS, FCC Review

June 25, 2020, 9:42 PM

Federal regulators could review any proposed transaction by bankrupt satellite operator OneWeb Global Ltd. if it raises national security concerns, the Justice Department said in a court filing.

Federal law authorizes the President, acting through the Committee on Foreign Investment in the United States, “to review any merger, acquisition, or takeover ‘by or with a foreign person that could result in foreign control of any United States business,’” according to a filing by Audrey Strauss, the Acting U.S. Attorney for the Southern District of New York in the district’s bankruptcy court.

OneWeb’s deal, if any, may be subject to review...

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