New Delhi, September30 2023: OneWeb, the global low Earth orbit (LEO) satellite communications network where Bharti Enterprises is the majority shareholder is to merge with Eutelsat Communications one of the world's leading satellite operators.
Bharti Chairman Sunil Bharti Mittal will be the Vice-Président (Co-Chair) and Shravin Bharti Mittal, who spearheaded the OneWeb investment, taking it out of Chapter 11, will be Bharti’s lead as a Director on the Board of Eutelsat. Akhil Gupta will continue to serve as a Director on the Board of OneWeb, now a 100% subsidiary of Eutelsat.
The merged entity will be headquartered out of Paris. OneWeb will be a subsidiary operating commercially as Eutelsat OneWeb with its centre of operations remaining in London.
Christened as the Eutelsat Group, the new entity will be the first GEO-LEO integrated satellite group, transforming space communications and addressing the fast-growing connectivity market.
Says Sunil Bharti Mittal, “Closing the digital divide is a critical mission for achieving the UN Sustainable Development Goals and this combination will synergize the efforts of both the businesses and will accelerate our progress. Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of last-mile 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.”