Bharti to invest ₹3,700cr more into OneWeb

NEW DELHI:

Bharti

will invest an additional $500 million (over Rs 3,700 crore) into One-Web, to become the largest shareholder in the satellite communications company that Sunil Mittal-run

Bharti Group

along with the

UK government

had rescued from bankruptcy last year.


The investment is a result of exercise of a “call option” by Bharti. On completion of the transaction and with Eutelsat’s $550 million investment, Bharti will hold 38.6%. The UK government,

Eutelsat

and

Soft-Bank

will each own 19.3%, One-Web said. The transaction is expected to be completed in the second half of 2021, subject to regulatory nod.