Bharti Airtel’s 45% stake in OneWeb to revolutionize telecom sphere
Bharti Enterprises Limited — India’s multinational Conglomerate and the parent company of Airtel, was recently involved in a historic deal that might transform the face of the global telecom industry. The company acquired 45% stake in OneWeb — a global communication company based in the United Kingdom.
After initial successes, OneWeb had problems in raising capital and finally on 27th March 2020, it filed for bankruptcy. On 3 July 2020, Mittal Group and the UK government won a bid to buy the OneWeb, with each of them investing USD500 million.
Despite being under huge pressure in the Indian market owing to the rise of Reliance Jio, Airtel has managed to win this bid that might see it becoming a part of the global telecom and internet revolution in the years to come. “OneWeb...