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Bharti Airtel to invest $500mn in OneWeb
June 30, 2021
Bharti Airtel on Tuesday said it would invest $500 million to turn into the biggest investor in the satellite communication organization OneWeb, which Bharti Group, alongside the British government, rescued from bankruptcy last year.
“OneWeb has finished its transformation with the excersire of a call option by Bharti to put an extra $500 m into the organization,” Bharti Airtel said in a statement.
The investment is a result of a “call choice” by Bharti. On completing the transaction and with Eutelsat’s $550-million venture, Bharti will hold 38.6 percent.
The British government, Eutelsat, and SoftBank will each possess 19.3 percent, OneWeb said in a statement.
“OneWeb, the worldwide low-earth circle (LEO) satellite Communication Company, has secured further fundraising on the anniversary of the effective bid by the UK government and Bharti Global (Bharti) to buy OneWeb from US Chapter 11 to bring its funding to $2.4 billion,” OneWeb said in a statement.
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