Regulators in Liechtenstein have backed a deal by Galway businessman Declan Ganley’s Rivada Networks to take control of a company that owns a licence to launch a system of laser-connected space broadband satellites. The system could end up competing with Elon Musk’s Starlink and Amazon’s Kuiper space satellite systems.

In March a consortium led by Rivada and some private investors took majority control of Liechtenstein company Trion Space, which owned the rights to the spectrum needed for the project. The licence was awarded by the International Telecommunication Union (ITU), a United Nations agency.

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