Artwork: The aim is to have the full satellite network in place in 2022 The OneWeb satellite operator has formally emerged from bankruptcy. Ownership has transferred to a new company with its principal shareholders now being the UK government and the Indian conglomerate Bharti Global Ltd. The new holding takes possession of all the operator's assets, including the 74 satellites it has in orbit and all the ground infrastructure to support them. It means the London-headquartered business can now crack on with building its broadband megaconstellation. Sunil Bharti Mittal, the founder and chair of Bharti Global, said it was most gratifying to see the months of hard work put into the purchase come to a conclusion. "It's a very good deal. If one had to roll the dice, this is the best one," he told BBC News. "I come from the world of telecommunications. For me, this is now the next frontier." OneWeb's plan is to take 648 spacecraft aloft to deliver internet connectivity to nearly all land and seas surfaces around the globe. The next 36 satellites have already been despatched from a Florida factory to Russia's Vostochny Cosmodrome for launch on a Soyuz rocket, currently scheduled for 17 December. The priority is to get the first generation satellites launched But any such service would be quite a way down the road. The new OneWeb company's priority has to be to build out its first-generation broadband network. The aim is to have coverage in the Northern Hemisphere down to about 50 degrees latitude next year (which would cover the UK), with the full constellation in place the year after. Sixteen launches have been booked with the French Arianespace rocket company to facilitate the roll-out. To achieve its goals, the project will, however, need further cash. "We will need a total of about $2bn to $2.25bn fresh money to complete this constellation," Mr Mittal said. "Importantly, we have spectrum priority. In my industry, as I have experience, spectrum is most valuable. And this company is blessed with the highest priority globally on Ku spectrum." OneWeb's chief competitor in the megaconstellation game is Starlink, which is being set up by the Californian rocket company SpaceX. Starlink, which has over 700 satellites in orbit now (the architecture of its network requires more satellites than OneWeb) has already begun beta testing with customers. The two projects are, though, following very different business models. OneWeb will be working with partner telecos to deliver its broadband connections, whereas Starlink will be selling direct to the consumer. OneWeb