Wednesday, May 18 2022 | Time 15:15 Hrs(IST)
Business Economy

Airtel JV with Hughes for Sat-broadband, rolls back rejig plan

Airtel JV with Hughes for Sat-broadband, rolls back rejig plan

(Correcting headline in DC4

New Delhi, Jan 5 (UNI) Telecom major Bharti Airtel on Wednesday announced joint venture (JV) with Hughes Communications for providing satellite broadband services in India.

"The agreement, announced in May 2019, has received all statutory approvals, including those from the National Company Law Tribunal (NCLT) and Department of Telecom (GoI) and the joint venture has been formed," said Airtel in an official statement.

Ajay Chitkara, director and chief executive officer, Airtel Business said that with the combined capabilities of Airtel and Hughes, customers will get access to next generation satellite connectivity backed by proven enterprise grade security and service support.

The statement said that Hughes Communications provides broadband networking technologies, solutions and services including a full range of managed network services for government offices and enterprises across segments like banking, aeronautical and maritime mobility, small to medium sized businesses, education, and telecom back haul, among others.

Bharti had on Tuesday announced to drop corporate restructuring plan announced on April 14, 2021 noting that existing corporate structure of the company is optimal for leveraging emerging opportunities and unlocking value while continuing to scale up its digital businesses.

"Under a modified scheme, the company, as previously approved by the Board, will merge its wholly owned subsidiary Telesonic Networks Limited, resulting in consolidation of its fiber assets into Airtel," Bharti said.

In addition, Nettle Infrastructure Investments Ltd will also be merged with Airtel.

"As announced earlier, the company will pursue its plan to eventually fold the DTH business (Bharti Telemedia) into Airtel to move towards the NDCP vision of converged services to customers," it said.

The company’s businesses would continue to be categorised under four key verticals -- India, Digital, International and Infrastructure.


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