Bharti to invest additional Rs 3,700 cr into OneWeb; to become largest shareholder

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New Delhi, Jun 29 (PTI) Bharti will invest an additional USD 500 million (over Rs 3,700 crore) into OneWeb, to become the largest shareholder in the satellite communications company that billionaire 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 USD 550 million investment, Bharti will hold 38.6 per cent. The UK government, Eutelsat and SoftBank will each own 19.3 per cent, OneWeb said in a statement.

OneWeb has completed its transformation with the exercise of a Call Option by Bharti to invest an additional USD 500 million into the company, it added.

The transaction is expected to be completed in the second half of 2021, subject to regulatory nod. PTI MBI HRS hrs

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