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With eye on 5G, Bharti acquires Satellite company OneWeb for $1 Bn

Shortpedia

Content Team
Image Credit: Shortpedia

20 years after launching mobile telephone services in India, Sunil Mittal took a giant leap to connect the next billion users through a constellation of satellites, possibly gaining a headstart in Indian telecom’s race towards 5G mobile networks. A consortium led by Bharti Enterprises has won 45% stake the bid for OneWeb, a bankrupt firm that makes satellites in the UK and the US. Bharti had bid jointly with the UK government for the auction.