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Bharti Enterprises’ Space Arm To Invest INR 313 Cr In Eutelsat
- Bharti Space Limited, the space arm of Bharti Enterprises, will invest nearly INR 313 Cr in French satellite group Eutelsat as part of a larger rights issue.
- The deal includes participation from other entities like shipping company CMA CGM and French investment fund Fonds Strategique de Participations.
- Funds raised will be used by Eutelsat to repay debt and invest in satellite constellations.
- This investment will make the French government the largest shareholder in Eutelsat with a 29.99% stake.
- Eutelsat is crucial to Bharti Enterprises' satellite communications ambitions in India.
- Bharti Enterprises became the largest shareholder in Eutelsat through a merger with UK government-backed OneWeb in 2023, forming Eutelsat OneWeb.
- Bharti Enterprises plans to offer satellite communication services in India using Eutelsat OneWeb's satellite constellation.
- However, Airtel, part of Bharti Enterprises, signed an agreement with SpaceX to provide Starlink services in India.
- Competition has intensified in India's satcom space with companies like Starlink, Jio SES, Amazon Kuiper, and others entering the market.
- TRAI has recommended norms for satcom spectrum, and the Indian government is expected to roll out regulations soon for faster satcom network deployment.
- The investment marks a strategic move by Bharti Enterprises in the satellite communication sector.
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