UK GOVERNMENT CONSORTIUM LED BY BHARTI ENTERPRISES WINS BID FOR ONEWEB

Sunil Bharti Mittal, Chairman Bharti Enterprises.

• OneWeb to provide high speed, low latency wireless broadband connectivity to billions in rural areas across the globe
• Offers strategic opportunities across a wide range of other applications and working with a broad range of international partners

Friday, July 3, 2020, New Delhi / London: Bharti Enterprises (“Bharti”), one of India’s leading business groups, today announced that a UK Government consortium led by Bharti has won the bid for OneWeb. The deal will enable OneWeb to complete the construction of a global satellite constellation that will provide enhanced broadband and other services to mobile and fixed terminals in countries around the world. OneWeb was formed with a mission to offer high speed, low latency wireless broadband access to billions of people across the globe, especially in rural areas through a constellation of satellites in low earth orbit. Bharti was one of the founding members of OneWeb and had a strategic stake in the company.

Commenting on the development, Sunil Bharti Mittal, Chairman Bharti Enterprises said: “I am delighted that Bharti will be leading the effort to deliver the promise of universal broadband connectivity through OneWeb, with the active support and participation of the British Government.”

“In addition to the strategic opportunities across a wide range of other applications and working with a broad range of international partners, this business has substantial commercial use cases across the telecoms, enterprise, aviation and maritime sectors. With strong operational execution, we will be able to generate an attractive return for investors, while ensuring that Britain plays a leading role in space and next generation communications.”

“In addition to these commercial and strategic benefits, OneWeb’s platform will help to reduce the “digital divide” by providing high speed, low latency broadband access to the poor and hard-to-reach rural areas. A low-earth orbit constellation is the only viable mechanism through which the “last billion” can be connected. As one of the largest telecoms operators in India and Africa, I know what a powerful social and economic enabler this can be. We will work with partners around the world to deliver this technology to those who need it the most.”

“I commend the Bharti Global team - led by Shravin Bharti Mittal - and our partners in the Government for bringing together this strong consortium, and putting together the winning bid, within such a short timeframe.”

“On a personal note, I am particularly excited about the opportunity for India and the UK to deepen their cooperation on space. Further, India’s leading edge capabilities in the space program through The Indian Space Research Organisation (ISRO) can be leveraged to accelerate OneWeb’s ambitions.”

Herbert Smith Freehills LLP served as the legal counsel and Standard Chartered Bank acted as the financial adviser to Bharti Global Ltd.

About Bharti Enterprises:

Bharti Enterprises is one of India’s leading business groups with diversified interests in telecom, financial services, real estate, hospitality, agri and food. Bharti has been a pioneering force in the Indian telecom sector with many firsts and innovations to its credit. Bharti Airtel, the group's flagship company, is a leading global telecommunications company with operations in 18 countries across Asia and Africa. Airtel ranks amongst the top three mobile service providers globally in terms of subscribers. Bharti has JVs with AXA, a world leader in Life Insurance and General Insurance. The group has a JV – FieldFresh Foods – with Del Monte Pacific Ltd. that offers a range of food and beverage products under the Del Monte brand in India and select SAARC countries. Other business ventures of the group include: Bharti Infratel – a leading provider of telecom tower and related infrastructure in India; Bharti Realty – a wholly owned real estate company primarily focused on premium commercial real estate; SB Energy – a JV with SoftBank Group for Renewable Energy.

Bharti Global Ltd, the overseas arm of Bharti, operates out of London. Bharti Global has numerous investments in telecoms, technology, hospitality, transportation and energy. Some of the portfolio companies of Bharti Global and its subsidiaries include – Airtel, One Web, Gleneagles and Hoxton Hotels, Emtel, Hike and Triton International.

Unbound, a global investment firm founded by Shravin Bharti Mittal, provides long-term capital to disruptive technology companies. Its portfolio include Databricks, mPharma, FreightHub, Deep Instinct and Cars24.

Bharti Foundation, the group’s philanthropic arm implements and supports programs in the field of primary, elementary, senior secondary and higher education. In addition to its primary focus area of education, the Foundation also works to improve sanitation facilities in rural India through its ‘Satya Bharti Abhiyan’ project.

About OneWeb

OneWeb's vision is to enable Internet access for governments, businesses and people everywhere. It is implementing a constellation of Low Earth Orbit satellites with a network of global gateway stations and a range of user terminals to provide an affordable, fast, high-bandwidth and low-latency communications service, connected to the IoT future and a pathway to 5G for everyone, everywhere. Find out more at http://www.oneweb.world.