The move assumes significance in the light of 2024 announcement of telecom czar Mittal's conglomerate acquiring 24.5 per cent stake in BT Group for about USD 4 billion to become the single-largest shareholder in Britain's biggest broadband and mobile company.
The UK is entering for a total of €163.3 million, supporting the financing of Eutelsat's growth in the LEO space, while Bharti Space is committing €150 million.
SpaceX submitted the required details for Starlink and agreed to most key conditions to obtain a Global Mobile Personal Communication by Satellite (GMPCS) license and authorisation approval from IN-SPACe, Moneycontrol previously reported.
The statement by the Airtel boss comes days after his call at the Mobile World Congress (MWC) 2025 in Barcelona for the telecom and satellite industries regarding internet expansion.
Sunil Mittal, on receiving the honour, expressed his gratitude, "It is an honour to have received the KBE from King Charles III. 'As India and the United Kingdom continue to chart remarkable scale in our bilateral relations, I acknowledge this recognition
Sunil Mittal explained that a senior finance official in Dubai received a call that used AI-generated audio mimicking his voice, requesting a substantial fund transfer. Fortunately, the official recognised the deception in time and avoided the transaction. After listening to the recording, Mittal admitted he was "stunned" by how closely the AI copy matched his real voice.
The Bharti group chairman said that while Elon Musk's Starlink poses competition, the company's business model targets the consumer segment, whereas OneWeb focuses on B2B use cases.
"India is on a growth path, which we saw in China 25 years back. We have strong tailwinds. I personally feel it," Mittal said.
At the Mobile World Congress Airtel Chairman Sunil Mittal told PTI that Airtel has a healthy balance sheet with no need to raise any more capital
Mittal seeks to fold Airtel Payments Bank into Paytm Payments Bank in a stocks deal and is also seeking to buy Paytm shares from other holders, sources told Bloomberg.
Mittal, whose Bharti Enterprises is one of the biggest investors in OneWeb, said two commercial launches have been confirmed with ISRO "with a cost outlay of Rs 1,000 crore".
He was speaking during a session on 'advancing digital cooperation', moderated by Observer Research Foundation President Samir Saran, during the World Economic Forum Annual Meeting 2022.
Currently the connectivity is accessible in all areas over 50 degrees on the atlas. “Latency is less than 50 milliseconds, and speeds are 100 Mbps or more. So it's looking like a final solution to connect those people who have been left behind. So I am very excited about this. I call it a telecom network in space," Mittal said.
While speaking at the launch of space and satellite companies body Indian Space Association, Mittal said that the company plans to begin roll out of providing connectivity in the country through OneWeb satellite from mid-2022.
The founder and chairman of Bharti Enterprises noted that the leverage was bothering investors and the company. He also remarked that 5G will become a reality in the second half of next year and that 'Bharti Airtel' bets on 5G.
The investor's call will be chaired by Bharti Airtel Chairman Sunil Bharti Mittal at 2:30-3:30 pm.
Mittal said that as the sector's role in the economy becomes more pervasive, its challenges loom larger.
The launch puts OneWeb on track to offer global services to customers from late 2021, starting with the United Kingdom, Alaska, Northern Europe, Greenland, Iceland, the Arctic Seas, and Canada, with global service in 2022.
As per the code of conduct of the firm, a pre-clearance of trades was needed from the compliance officer since the number of shares involved in the trade exceeded 50,000 scrips, to be approved in consultation with the company's chairman.
Mittal said the telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
Bharti Airtel had posted a staggering Rs 23,045 crore net loss for the second quarter ended September 30, due to provisioning of Rs 28,450 crore in the aftermath of the SC ruling on statutory dues.
“Digital economy is changing the composition, nature and speed of global trade leading to policy friction - today's trade rules reflect 20th century patterns of trade. With the size of e-commerce touching USD 25 trillion, digital infrastructure is a key determinant required by SMEs in developing countries to be a part of the global value chain,"
"Our request was that the OTT players in the telecom arena should have the same rules of the game. I don't know what are the recommendations on that. I believe, probably, the TRAI will come up with another consultation on the OTT side. We will see how they develop...," he told television channel ET Now on the sidelines of the Global Entrepreneurship Summit (GES) here.
In an interview to CNBC-TV18’s Shereen Bhan, Sunil Bharti Mittal spoke about the latest happenings in his company and the sector.