Bharti Group rules out majority control of Eutelsat OneWeb
What's the story
The Bharti Group is considering increasing its stake in Eutelsat OneWeb to around 30%, matching the French government's holding. However, Sunil Mittal, Chairman of Bharti Enterprises, has ruled out any plans for majority control. In a conversation with The Economic Times, he said that the satellite company will largely remain European. This move comes as part of the group's broader strategy to expand its global footprint and diversify its business interests.
Future prospects
Bharti Group's expansion plans
Mittal has also outlined ambitious expansion plans for the Bharti Group, including venturing into financial services and setting up AI data centers.
He said these are some of the "next big bets" as Bharti Airtel aims to serve one billion customers globally.
The plans come as the group celebrates its 50th anniversary this year, marking a major milestone in its journey of growth and innovation.
Leadership transition
Succession planning at Bharti Group
Mittal also stressed on the importance of succession planning, saying it can be disruptive if not handled properly.
He said any founder must leave behind as much clarity as possible for their successors.
"We have created or laid early foundations of what I call House of Bharti. It's a charter that I have created for the next generation," he said, highlighting his commitment to smooth leadership transition at Bharti Group.