RPT-UPDATE 1-SoftBank-backed OneWeb considers filing for bankruptcy – Bloomberg News

(Repeats to add story keyword used by media customers) 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)

A SoftBank spokeswoman declined to comment, while OneWeb did not immediately respond to Reuters request for comment. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

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