Bharti will invest an additional $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 $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.
Bharti will have to deal with 15 different regulatory regimes in Africa as opposed to just one in India.
They have lost more than $13 billion from their combined wealth, but still the two Ambani brothers have moved higher on Forbes' latest list of the world's ten richest CEOs, while Sunil Mittal has joined the league and Lakshmi Mittal has slipped two places.
Mittal and Ruia did not appear in the Special CBI Court on Monday while one of the accused, Canada-based NRI Asim Ghosh, who was the then Managing Director of accused firm Hutchison Max Telecom Pvt Ltd, is yet to be served with the summons issued against him in the case.
Mittal, Ruia and former Telecom Secretary Shyamal Ghosh appeared before Special CBI Judge O P Saini and the court adjourned the matter in pursuance of the order passed by the Supreme Court on April 18.
Bharti Airtel on Thursday said its 5G services have gone live in eight cities of Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi. The customer availing 5G services will have to pay as per their existing 4G plan, it said. "Airtel has been at the forefront of India's telecom revolution for the last 27 years.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
Sunil Bharti Mittal promoted Bharti group is planning to list in the US market to access capital and expand visibility overseas.
Sunil Mittal-promoted Bharti Teletech has been presented the Electronics and Computer Software Export Promotion Council award for achieving the highest exports in telecommunications equipment during 2001-02.
The IPO boom in 2023 added four new promoters to the billionaires' list.
Without assigning any reason, Justice Dave, who was part of the bench headed by Chief Justice Altamas Kabir, opted out of hearing the pleas of Mittal and Ruia challenging the summons issued to them in the case.
While Bharti's retail stores will be fully Indian, they will be able to take advantage of the tremendously low prices and technology advantages that Wal-Mart will bring to Mittal-Mart's sourcing.
After a five-day long visit, Apple CEO Tim Cook left India with a note that he can't wait to return to the country. The visit of Cook coincided with 25 years of the iPhone maker's presence in India. Cook arrived in India on Monday. The visit started with the launch of the first official Apple store in Mumbai on April 18 followed by a second in the national capital on April 20.
Bharti Enterprises, the holding company of Bharti Airtel and other businesses such as insurance and retail is aiming to achieve $10 billion revenue by 2010 and become a strong conglomerate a decade later, its chairman Sunil Mittal said on Monday.
India's 140 million mobile subscribers make missed calls to convey a pre-agreed message.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
The fall represented the second straight month of decline in subscribers. Users in the segment had reduced by 3.66 million in September, shrinking for the first time in seven months.
Bharti Airtel boss Sunil Mittal already heads the Confederation of Indian Industry (CII). Former BPL Mobile boss Rajeev Chandrasekhar is slated to take over as Federation of Indian Chambers of Commerce and Industry (Ficci) president.
In his first public appearance after talks were called off on September 30, Mittal, who is CMD of Bharti Airtel said, "No further talks with MTN and the current round is over."
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
While Forbes magazine's India Rich List remains dominated by individual business leaders, those making the mark along with their family members are also quite a few and also include three in the top 10 -- Hinduja Brothers (6th place), Adi Godrej & family (8th position) and Sunil Mittal & family (10th).
Billionaire Sunil Mittal, arguably India 's most successful telecom entrepreneur, may be on the verge of starting another revolution in the country's corporate world. Mr Mittal, who has built his mobile operator Bharti Airtel from a bit player into a $40bn company in less than a decade, is now pondering a deal that could leave him holding a much smaller share in the group but turn it into a global player.
Indian CEOs are increasingly finding representation on some of the world's most influential policy bodies.
Sunil Mittal opined that all new GSM players will lose out in 3 years and Vodafone almost echoed this view.
Earlier this week Vodafone CEO Vittorio Colao had said, 'one day we will discuss (Vodafone and Bharti Group) what to do with the stake. To have a discussion on any issue we need to have both the partners.' In 2005, Vodafone had bought a 10 per cent stake in Bharti Tele-Ventures Ltd (BTVL) for Rs 6,700 crore (Rs 67 billion).
Mukesh Ambani, Chairman of Reliance Industries Ltd, has won this year's prestigious World Communication Award as the world's most influential person in telecommunications in 2004, said a company release.
The Indian industry stands staunchly opposed to job reservations in the private sector, Bharti Group promoter and Confederation of Indian Industry vice-president Sunil Mittal has said as he vowed to fight the move at every fora.
Sunil Mittal will become executive chairman.
The Bharti Group is raising $320 million in loans from a clutch of banks, including ABN AMRO and Singapore's DBS Bank, group chairman Sunil Mittal said on Tuesday.\n\n\n\n
Mittal said the evidence, on the basis of which he has been arrested, was not sufficient as no drugs, as per the tests carried out by the Apollo hospital, were found in Mahajan's body.
Bharti Tele Ventures on Tuesday said the groups' foray into the retail segment, through a joint venture, would be finalised in the next three-four months.
January 22, 2024 has passed into history. Scenes from a day of religious fervour in many parts of India.
A sharp dresser, with a prominent jawline, Kohli will now have to contend with aggressive competition from Vodafone-Essar, perhaps the toughest so far in his career.
Singapore based telecom firm SingTel, which holds over 30 per cent stake in Bharti Airtel, on Wednesday said it has full faith in the company's corporate governance standards under the leadership of company's chairman Sunil Bharti Mittal.
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