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Dismissing Elon Musk's allegations that his satcom company Starlink is being blocked in India, Bharti Airtel chairman Sunil Bharti Mittal said that even his satcom venture, Eutelsat OneWeb, is awaiting approvals to start operations. On Wednesday, Musk alleged that "certain oligarchs" have blocked Starlink in India to maintain their monopoly. Musk did not explicitly name any company but said, "You can guess who they are". India's telecom market has three private players: Reliance Jio, Bharti Airtel, and Vodafone Idea. Musk-led Starlink, Jio Satcom and Eutelsat OneWeb are the three satellite communications companies in the fray to start satellite services in the country. The government has granted licences to the three satellite communications companies for starting operations in the country. However, all the companies need spectrum and security clearance before starting the service. When asked about his view on Musk's allegations, Mittal at India Mobile Congress said: "We are wai
Bharti Enterprises Chairman Sunil Mittal on Tuesday exuded confidence that the India-EU FTA will open new avenues for collaboration, especially in digital infrastructure and space connectivity, and offer European investors a compelling opportunity to innovate and scale with India for global markets. The agreement also opens opportunities for Indian companies like Airtel to invest in the digital infrastructure in Europe, the telecom sector stalwart said in a statement. The comment comes in the backdrop of India and the European Union (EU) concluding the negotiations for a Free Trade Agreement (FTA) on Tuesday, marking an important milestone in one of New Delhi's most strategic economic partnerships. With a combined market estimated at over Rs 2,091.6 lakh crore (USD 24 trillion), bringing opportunities for the 2 billion people of India and the EU, the FTA promises to unlock significant potential for trade and innovation. The landmark free trade agreement -- which is being billed as
ICIL, a company belonging to telecom czar Sunil Bharti Mittal's family office, on Wednesday sold 3.43 crore equity shares, or 0.56 per cent stake, in Bharti Airtel for about Rs 7,190 crore (USD 806 million). After the share sale, Bharti Airtel's scrip fell 3 per cent to Rs 2,097.50 apiece on the NSE while it dipped by 2.81 per cent to Rs 2,100 per share on the BSE. The Indian Continent Investment Ltd (ICIL) is one of the promoter entities in city-based Bharti Airtel. Under the transaction, the share sale comprises up to 34.3 million (3.43 crore) shares, representing 0.56 per cent of the outstanding share capital by the selling shareholder. The shares were offloaded at a floor price of Rs 2,096.70 per share, a 3 per cent discount to Bharti Airtel's closing price of Rs 2,161.60 apiece on the NSE on Tuesday, according to a term sheet seen by PTI. The transaction is pegged at around USD 806 million, or about Rs 7,189.19 crore. ICIL owned a 1.48 per cent stake in Airtel at the end of