BHARTI SOFTBANK
Another Ambani vs Mittal battle? A look into Airtel's African empire
Bharti Airtel's African venture has been a rollercoaster ride, starting with a bold move by chairman Sunil Mittal in 2008. Despite initial struggles, Airtel Africa has managed to establish a strong presence in 14 countries. Meanwhile, Mukesh Ambani's Reliance Industries is making inroads into the African telecom market with 5G infrastructure solutions. As Airtel Africa faces currency woes, the stage is set for a potential showdown between the two telecom giants.
Elara Capital India appoints Manoj Kohli as non-executive chairman of board
“Elara Capital will extensively benefit from Manoj’s extensive business and leadership skills to help strengthen our business focus. His guidance will be invaluable to us to further strengthen our client offerings and achieve our growth plans,” said Raj Bhatt, chairman, Elara Capital. Kohli has held leadership positions, including as managing director of Bharti Airtel.
CXOs feel the heat amid high expectations, low tolerance
Indian CXOs encountered career-threatening events at least once last year – 23% said it was due to board disputes, according to an upGrad Harappa study. Public relations issues, economic downturns, cybersecurity breaches, market changes, regulatory/compliance matters and M&A challenges were among the other issues that leaders had to deal with, that posed a risk to their careers.
Gaming app Hike posts almost 8-fold surge in FY23 revenue, losses up by 24%
Hike's overall expenses surged to Rs 299 crore in FY23, up 114% on year from Rs 140.45 crore in the previous fiscal. This increase was mainly driven by higher employee salaries, server costs and marketing expenses.
Stocks in news: Delhivery, RIL, Jio Fin, Airtel, IDBI Bank, Hero MotoCorp, Page Inds
Subsidiary Reliance Jio Infocomm added 32.4 lakh users in August, and its wireless subscriber tally topped 44.57 crore, according to data released by telecom regulator TRAI.
Eutelsat concludes OneWeb merger; Bharti Enterprises to be largest shareholder
France's Eutelsat Communications has merged with OneWeb with Bharti Group, to create a global satellite operation. The move aims to compete with rivals such as Elon Musk's Starlink and Telesat. Bharti Enterprises will be the largest shareholder in the merged entity, called Eutelsat Group. Sunil Mittal, founder and chairman of Bharti Enterprises, will co-chair the board, while his son, Shravin, will be a director.
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Airtel's perilous safari: How Sunil Bharti Mittal conquered Africa
Sunil Bharti Mittal, Chairman of Bharti Enterprises and founder of Bharti Airtel, has urged the world to invest in Africa, calling it the last continent of hope. Mittal's own experience with Airtel's operations in Africa has given him insight into the continent's potential. Airtel Africa struggled initially, but has since turned around its business through rationalization, debt reduction, and network expansion. The company aims to become the leading player in the African market, benefiting from low user penetration and increasing data usage.
Fag-end buying drives Sensex 364 pts up; investors gain Rs 3.12 lakh crore
The broader NSE Nifty rose 129 points or 0.76% to end at 17,081 on F&O expiry
OneWeb should have all clearances in time for July launch in India: Sunil Mittal
OneWeb executive chairman Sunil Mittal, also chairman of the Bharti Group, also expects India’s much awaited spacecom policy to be notified soon, and reiterated that spectrum for satcom should not be auctioned but allotted administratively, which is the global norm.
These 6 Indian startups are among world's top 100 unicorns
Data shows that while the number of unicorns globally increased to 1,204 in 2022 from 959 in 2021, the cumulative valuation of new unicorns decreased to $556.6 billion in 2022 to $1,159.8 billion in the previous year
Paytm shares drop up to 9% today. What's the bad news?
Today's selling pressure in the new-age stock comes after Bharti Enterprises chairman Sunil Mittal confirmed to ET that it is not in talks with Paytm to buy a stake.
SoftBank, Ant Group discuss Paytm secondary sale to reduce holding in payments firm
Paytm’s management including its founder and CEO Vijay Shekhar Sharma are seen to be opposed to a strategic investor coming on board the company.
SoftBank, Ant may sell Paytm shares; Zomato asks for higher commissions, restaurants upset
China’s Ant group and Masayoshi Son-led SoftBank, two of the largest investors in Paytm’s parent One97 Communications, are looking at reducing their holding in the fintech major. This and more in Monday’s edition of the ETtech Morning Dispatch.
Satellite spectrum can't be auctioned on lines of 5G airwaves: Sunil Mittal
In case the government decides to auction the spectrum, these factors should be kept in mind while designing the process, otherwise India could potentially miss out on satellite services, said Mittal, who has historically been against auction of satellite airwaves.
WazirX tells workers it ‘disagrees’ with ED; Son’s warning to unicorn founders
Three days after the Enforcement Directorate froze its bank assets worth Rs 64.67 crore, crypto exchange WazirX has sought to allay the concerns of its anxious employees.
Google bets a billion on Bharti Airtel; Zomato backs two more startups
Google will make an equity investment of $700 million in Bharti Airtel at Rs 734 a share. The $300 million go towards scaling Airtel’s offerings via affordability programmes.
Gautam Adani seals the largest deal in India's renewable sector with SB Energy buy for $3.5 billion
With this deal, SB Energy India is now a 100 per cent subsidiary of AGEL. Earlier, it was a 80:20 joint venture between Japan-based SoftBank Group Corp and Bharti Group.
Department of Telecommunications issues letter of intent to Bharti OneWeb
With this, Bharti group will become the only company in the country to have presence in both satellite and terrestrial communication services. The company had applied for the licence in June 2021.
CCI approves Adani Green's acquisition of entire stake in SB Energy
According to Adani Green's statement issued in May, SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India.
Bharti to invest additional Rs 3,700 cr into OneWeb
The transaction is expected to be completed in the second half of 2021, subject to regulatory nod.
OneWeb UK unit to buy up to 74% in OneWeb India: Source
“Now, Network Access Associates, a wholly-owned arm of Bharti Global-backed OneWeb UK, will acquire a significant majority portion of Nettle Infra’s stake in OneWeb India and seek the requisite statutory approvals,” a person aware of the matter told ET on condition of anonymity.
Bharti-backed OneWeb launches another 36 LEO satellites from Russian cosmodrome
The latest satellites launch comes just a month after Bharti-backed OneWeb announced plans to raise $550 million (Rs 4,103 crore) by selling a 24% stake to Eutelsat Communications, bringing its total funding to $1.9 billion and taking it closer to launching a first-generation fleet of 648 satellites next year.
ET exclusive: Softbank scraps renewable deal with CPPIB, to continue running SB Energy with Bharti
Differences over valuations, CPs, rights for minority shareholder scuppered months of negotiations; team informed this morning. Move seen as major embarrassment for Softbank founder Masayoshi Son.
Bharti backed-OneWeb to raise $550 mn from France's Eutelsat
Eutelsat, a geo-stationary satellite operator, will be a significant equity partner and enjoy similar governance rights to the UK government and Bharti Global, who co-own OneWeb.
OneWeb secures $260 million more from Softbank, Hughes Network
“The capital raised to date positions the company to be fully funded for its first-generation satellite fleet, totaling 648 satellites, by the end of 2022,” a statement released by OneWeb said on Friday.
Hike to spend up to Rs 40,000 per employee to facilitate work from home throughout 2020
The company, however, has kept its office open for employees who want to access special technologies available within the premise for their work, it said.
India's Bharti and UK win auction for satellite operator OneWeb: Report
OneWeb filed for Chapter 11 bankruptcy at the end of March after its biggest investor SoftBank Group Corp pulled funding, with an auction held on Thursday.
Softbank-Bharti green energy JV taps Brookfield for up to $600 million funds
The need for funds is immediate and so they are open to various structures, said a global clean tech investor. However, most industry participants believe parent Softbank may eventually sell a larger chunk, even majority to bring on board large institutional investors to deal with its own liquidity challenges.
Bharti Enterprises firm bids for bankrupt OneWeb
OneWeb has estimated assets in the range of $1 billion to $10 billion and liabilities in the same range, according to US bankruptcy court filings. The company had said that bids were to be opened Friday. But if there was no clear winner in the eyes of the US judge and OneWeb’s creditors, an auction would be held on July 2.
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