InvestorQ : What is the significance of Bharti Airtel increasing its stake in OneWeb of UK?
Rashi Mehra made post

What is the significance of Bharti Airtel increasing its stake in OneWeb of UK?

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Archita Jajjoo answered.
5 months ago
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Bharti Airtel, India’s leading telecom services player, has committed to invest an additional Rs.3,700 crore or around $550 million, into OneWeb. You would recollect that OneWeb is the satellite communications company which Bharti Airtel had rescued from bankruptcy last year, in association with the government of UK. As part of the rescue act, Bharti had been given a call option to enhance its stake in OneWeb.

Now it is that call option that Bharti Airtel is exercising. Once this call options is exercised and the deal is completed, Bharti will hold 38.6% in OneWeb while the UK government, Eutelsat and SoftBank will hold 19.3% each. The entire transaction is expected to be completed in the second half of calendar year 2021. By the close of the transaction, Bharti becomes the dominant shareholder in OneWeb of UK.

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