Bharti Airtel wholly owned subsidiary Nettle acquires 100% stake in OneWeb India

As per the regulatory filing Nettle Infrastructure Investments, a wholly-owned arm of Bharti Airtel has acquired 100% stake in OneWeb India Communications Pvt Ltd, in an all-cash deal for an undisclosed sum. OneWeb is a low earth orbit (LEO) satellite communications operator, co-owned by Bharti Global and the UK government, which is open to entering India either directly or through a commercial partnership, involving either the JV route or a bandwidth capacity leasing pact, even as it gears up to launch fast broadband services in the country by June 2022. Recently, OneWeb launched 36 satellites by Arianespace from the Vostochny cosmodrome in Russia, paving the way for launching high-speed satellite broadband services in key global markets from late-2021, and in India by mid-2022.