But the deal is still contingent on getting Intelsat’s bondholders to effectively take close to a significant haircut
on their holdings, to help give the satellite operator some breathing room from its debt load of about $14 billion.
Mr. Son’s vehicle for his satellite efforts is OneWeb — the latest venture by the entrepreneur Greg Wyler
— which has a stated goal of providing lower-cost internet access worldwide within the next decade.
Son has already invested $1 billion, with a debt-laden competitor, Intelsat,
the billionaire is hoping to bolster SoftBank’s reach and internet coverage.
Adding satellites could help SoftBank and its holdings, including Sprint in the United States, improve their high-speed internet capabilities.
The two companies contend that together, they would be able to provide more high-speed
internet access for homes and businesses, in cars and in other locations