TAMPA, Fla. — Saudi Arabia’s sovereign wealth fund-backed Neo Space Group (NSG) is looking to lease multi-orbit capacity to bolster its foothold in the satellite market, ahead of likely owning and operating its own constellation.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...