Bharti Enterprises backs Eutelsat-OneWeb merger to forge world's first GEO-LEO satellite connectivity giant

Notably, Bharti Enterprises emerged as the largest shareholder in this groundbreaking merger, with a substantial 21.2 percent stake in the Eutelsat Group. Leading the way for Bharti Enterprises' involvement, Sunil Bharti Mittal assumes the role of Vice-Président (Co-Chair) within the Eutelsat Group.

Shravin Bharti Mittal, known for his instrumental role in salvaging OneWeb from Chapter 11 bankruptcy, takes the helm as a Director on the Board of Eutelsat, a testament to his leadership in the satellite industry. Meanwhile, Akhil Gupta continues his role as a Director on the Board of OneWeb, now a wholly-owned subsidiary of Eutelsat.

Despite the merger, OneWeb will maintain its commercial operations under the name Eutelsat OneWeb, keeping its center of operations rooted in London.

With listings on both the Euronext Paris Stock Exchange and a pending standard listing application on the London Stock Exchange, the Eutelsat Group aims to enhance its global presence.

The integration of Eutelsat's powerful Geostationary Earth Orbit (GEO) fleet with OneWeb's LEO constellation positions the Eutelsat Group at the forefront of space communications.

Sunil Bharti Mittal, founder & chairman of Bharti Enterprises, said, "Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of lastmile connectivity.

Bharti is excited about providing services in India later this year and importantly, reaching other countries in the global south to provide broadband connectivity to those who are deprived of being a part of the Digital Revolution."

With OneWeb’s network already active and set to be globally operational by the end of 2023, the combined GEO-LEO service will open up new markets and applications for customers, including Fixed Connectivity (Backhaul, Corporate networks), Government Services and Mobile Connectivity (Maritime and Inflight).

Shares of Bharti Airtel Ltd ended at Rs 925.05, up by Rs 5.45, or 0.59 percent on the BSE.