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Tag: Airtel

100% FDI, other Major Telecom Reforms Approved by Cabinet

100% FDI, other Major Telecom Reforms Approved by Cabinet

Business, India, Latest News
The five process structural reform will give much-needed relief to Vodafone-Idea — confronting an existential crisis, as well as to Airtel. Good news for Vodafone Idea & Airtel: 100% FDI in telecom sector New Delhi: In a first, the Union Cabinet on Wednesday allowed 100% foreign direct investment (FDI) in the country's struggling telecom sector via the automatic route. This forms part of the five process structural reforms proposed by Ashwini Vaishnaw, Minister for Communications. Earlier, only 49% FDI was allowed through the automatic route and anything above that needed to pass through government route. “Today the cabinet has decided to allow 100 per cent FDI through automatic route in the telecom sector. All safeguards will be applicable,” said Vaishnaw, adding tha...
Bharti Airtel’s 45% stake in OneWeb to revolutionize telecom sphere

Bharti Airtel’s 45% stake in OneWeb to revolutionize telecom sphere

Business, Latest News
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...