Bharti Enterprises-Led Consortium Wins Bid for OneWeb; To Jointly Invest $1 Billion

Bharti Enterprises-led consortium, which is backed by the UK government, has won the bid OneWeb, the bankrupt global satellite operator which has SoftBank Group Corp as one of the major investors. Bharti Enterprises had in 2015 participated in a funding round for OneWeb alongside other investors including Qualcomm, Virgin Group and Airbus Group NV.

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OneWeb formed an alliance in 2018 with partners including Delta Air Lines Inc., Bharti Airtel and Sprint Corp. to allow wireless carriers to extend their service into aeroplane cabins.

“I am delighted that Bharti will be leading the effort to deliver the promise of universal broadband connectivity through OneWeb, with the active support and participation of the British Government,” Sunil Bharti Mittal, Chairman Bharti Enterprises said in a statement.

Deal to allow construction of a global satellite constellation

The deal will enable OneWeb to complete the construction of a global satellite constellation that will provide enhanced broadband and other services to mobile and fixed terminals in countries around the world. Herbert Smith Freehills LLP served as the legal counsel and Standard Chartered Bank acted as the financial adviser to Bharti Global Ltd.

In addition to the strategic opportunities across a wide range of other applications and working with a broad range of international partners, this business has substantial commercial use cases across the telecoms, enterprise, aviation and maritime sectors, Mittal said.

“With strong operational execution, we will be able to generate an attractive return for investors, while ensuring that Britain plays a leading role in space and next-generation communications,” he added.