Activist shareholder action around US towerco Crown Castle highlights a wider connectivity debate, between those sticking to a pure-play ‘steel and grass’ business model and others pursuing diversification.

Towers are seen as an attractive and resilient market for connectivity investors because 

OneWeb will pursue US$1bn-1.5bn in further financing as the smallsat operator develops a next-gen payload and broadens its business strategy following its buyout, a source familiar with the deal said.

The US$1bn sale of the UK-based bankrupt operator is likely to have global implications, with the biggest impacts to be felt keenly in the UK and India and more broadly in…