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Bharti Group to invest $500 million to be OneWeb's largest shareholder

This will make Bharti Group the largest shareholder in the satellite communications company

Sunil Bharti Mittal, Chairman, Bharti Enterprises

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OneWeb Executive Chairman Sunil Bharti Mittal said the company represented a “unique opportunity” for investors at a key moment in the commercialisation of space

Megha Manchanda New Delhi

2 min read Last Updated : Jun 30 2021 | 11:16 AM IST

Bharti Group on Tuesday said it would invest $500 million to become the largest shareholder in the satellite communications company OneWeb, which Bharti Group, along with the British government, rescued from bankruptcy last year.

“OneWeb has completed its transformation with the exercise of a call option by Bharti to invest an additional $500 m into the company,” Bharti Group said in a statement.

The investment is a result of a “call option” by Bharti. On completing the transaction and with Eutelsat’s $550-million investment, Bharti will hold 38.6 per cent.

The British government, Eutelsat, and SoftBank will each own 19.3 per

Topics : Bharti Airtel Satellite Sunil Mittal

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