Bharti Airtel To Invest Additional Rs 3,700 Crore In OneWeb, Stock Gains Marginally

Bharti Airtel Share Price Today: On Wednesday, Bharti Airtel opened on the BSE at Rs 528, inching to an intra day high of Rs 530.35, and an intra day low of Rs 526.05, so far.

Share price of Bharti Airtel edged marginally higher on Wednesday, June 30, a day after the telecom giant announced that it will invest an additional Rs 3,700 crore into OneWeb, to become its largest shareholder. On Wednesday, Bharti Airtel opened on the BSE at Rs 528, inching to an intra day high of Rs 530.35, and an intra day low of Rs 526.05, in the trading session so far. According to news agency PTI, OneWeb is a satellite communications company which the Bharti group and the UK government saved from bankruptcy last year. The recent investment is a result of an exercise of a call option by the telecom operator. On the completion of the transaction and with Eutelsat's $ 550 million investment, Bharti Airtel will hold 38.6 per cent after its investment. OneWeb revealed in a statement that the UK government, Eutelsat and SoftBank will each own 19.3 per cent. On Monday, June 28, OneWeb and BT- a leading communication services company, signed a Memorandum of Understanding (MoU), to explore the provision of improved digital communication services to reach some difficult areas in the UK.