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<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. 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Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

London, <keyword id="19994374" type="General" weightage="20" keywordseo="bharti" source="keywords">Bharti</keyword> Enterprises Founder and Chairman <keyword id="20035984" type="General" weightage="20" keywordseo="sunil-bharti-mittal" source="keywords">Sunil Bharti Mittal</keyword> on Wednesday became the first Indian citizen to be conferred an honorary <keyword id="20763363" type="General" weightage="20" keywordseo="knighthood" source="keywords">Knighthood</keyword> by Britain's King Charles III "for services to UK and India business relations". In a list of honorary British awards unveiled by the UK Cabinet Office, <keyword id="20134935" type="General" weightage="20" keywordseo="mittal" source="keywords">Mittal</keyword> receives a KBE under the Most Excellent Order of the British Empire - one of the highest honours conferred by a British monarch. The 66-year-old entrepreneur said in a statement that he was "deeply humbled" by the gracious recognition from King Charles. "The UK and India have historical relations, which are now entering a new era of increased cooperation and collaboration. I remain committed to working towards strengthening the economic and bilateral trade relationships between our two great nations," Mittal said. "I am thankful to the government of the UK, whose support and keen attention to the needs of business has been critical in making the country an attractive investment destination," he said. The KBE, conferred for a pre-eminent contribution in any field of activity, is awarded in an honorary capacity to foreign nationals. While the Knighthood conferred on UK nationals gives them the title of Sir or Dame, non-UK nationals awarded the honour add KBE (or DBE for women) after their name. Previous Indian recipients of the Honorary KBE include Ratan Tata (2009), Ravi <keyword id="20006262" type="General" weightage="20" keywordseo="shankar" source="keywords">Shankar</keyword> (2001) and Jamshed Irani (1997), conferred by the late Queen Elizabeth II. The investiture ceremony will be conducted by the British High Commissioner to India at a later date, when he will formally hand over the royal insignia to Mittal. The honour recognises Bharti Enterprises' work within the India-UK space, including with the UK government in the field of satellites. Sunil Bharti Mittal led the revival of OneWeb (now Eutelsat), leading a consortium with the UK government and other strategic investors to offer satellite broadband services globally, a company statement notes. Mittal has a strong connection with the UK, as a member of the India-UK CEO Forum and has previously been awarded the Honorary Doctor of Civil Law from Newcastle University and an Honorary Doctor of Laws from the University of Leeds. He is also a member of the Vice Chancellor's Circle of Advisors at the University of Cambridge. Additionally, Sunil Bharti Mittal has served on the Governing Body of the London Business School (LBS) and as a Member of the India Advisory Group at the London School of Economics and Political Science (LSE). In 2019, Bharti's Airtel Africa was listed on the London Stock Exchange and is a constituent of the FTSE100 Index.

Bharti Enterprises chief Sunil Bharti Mittal knighted by King Charles III

Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have <keyword id="143" type="General" weightage="50" keywordseo="bollywood" source="Orion">Bollywood</keyword> superstar <keyword id="1671" type="General" weightage="50" keywordseo="shah-rukh-khan" source="Orion">Shah Rukh Khan</keyword> as the brand ambassador, <keyword id="15333" type="General" weightage="50" keywordseo="venugopal" source="Orion">Venugopal</keyword> <keyword id="18489" type="General" weightage="100" keywordseo="dhoot" source="Orion">Dhoot</keyword>'s is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like <keyword id="6354248" type="General" weightage="80" keywordseo="videocon" source="Orion">Videocon</keyword> becoming the largest television set manufacturer in India. The eldest son of late Nandlal Madhavlal Dhoot, who founded the <keyword id="6379256" type="General" weightage="50" keywordseo="videocon-group" source="Orion">Videocon Group</keyword> in 1984, Venugopal was largely responsible for driving the conglomerate to diversify into various verticals, such as oil and gas, real estate and retail, beyond its successful consumer electronics and home appliances business. Dhoot, the safari-suited businessman, was born into an agricultural family in Ahmednagar (Maharashtra), where his father had a cotton ginning mill and operated a wholesale grain trade. In 1982, when the public broadcaster Doordarshan began transmitting colour television programmes in India, it opened a new segment. Here the Dhoot family tried their luck in the uncharted territory of manufacturing conventional tube-based colour TV sets. Dhoot who had an engineering degree from the University of Pune set off to Japan for a year to be trained at electronics companies. In 1986, he founded Videocon International, which aimed at manufacturing 1,00,000 TV sets a year. It entered into technical collaboration with the Japanese major Toshiba and from here there was no looking back. From colour TV sets, Videocon in the 1990s expanded into other verticals, such as refrigerators, washing machines, air conditioners, home entertainment systems and other small appliances. It pushed contemporary rivals like Mirc Electronic (Onida), Salora, Weston etc with affordable pricing. Its TV models like Bazooka and Bazoomba were the market's favourites in the early 90s. After having success in its consumer electronics and home appliances business, Dhoot expanded Videocon Industries into other areas, such as Oil &amp; Gas, cellular services and others. However, Dhoot's downfall started when it entered into the cellular service area with Videocon Telecommunications. It could launch commercial services only in 11 out of the 18 circles it held licences. In 2012, after the 2G spectrum case, the Supreme Court cancelled 122 licences issued by the central government in 2008, 21 licences belonged to Videocon. In the 2012 spectrum auction, Videocon won back licences in 6 circles but sold to the market leader <keyword id="6354287" type="General" weightage="50" keywordseo="bharti-airtel" source="Orion">Bharti Airtel</keyword> and shut down operations. Moreover, in the late 90s South Korean giants like LG Electronics and Samsung entered the Indian market, which disrupted consumer electronics and appliances with the latest technology and quality products at affordable pricing. Though Videocon Industries had several verticals, its main cash cow was the consumer electronics and appliances business. As Videocon failed to face the challenges from rivals Sony, LG and Samsungs, its revenue got stagnated and gradually it sat on a pile of debt. Dhoot tried to pair debts by selling some of his assets. The company merged its DTH business with Dish TV. They sold ownership in some of their gas fields and telecom business, but it did not work. Finally, in 2018, it was dragged to the insolvency tribunal NCLT by its creditor. It owed around Rs 31,000 crore to the banks, including interests. At the request of lenders, the National Company Law Tribunal (NCLT) has conducted a consolidated corporate insolvency resolution process by combining Videocon Industries and the other 12 Videocon group companies. In June 2021, a bid of merely Rs 2,692 crore from billionaire Anil Agarwal's Twin Star Technologies to take over Videocon Industries was approved by the NCLT. This also went into controversy. Earlier this year, the National Company Law Appellate Tribunal (NCLAT) had set aside Twin Star's Rs 2,692 crore bid, directing to invite fresh bids. Though it was challenged before the Supreme Court by Twin Star, the creditors of Videocon Industries are still looking for a buyer. According to some sources, the lenders may even consider liquidation, if they fail to find a buyer for the company, which once was a success story. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/icici-bank-videocon-case-cbi-seeks-three-day-custody-of-videocon-chairman-chanda-and-deepak-kochhar/articleshow/96519994.cms">ICICI Bank-Videocon case: CBI seeks three-day custody of Videocon chairman, Chanda and Deepak Kochhar</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/money-view-raises-75-million-in-series-e-funding/articleshow/96516790.cms">Fintech company Money View raises $75 million in Series E funding led by UK’s Apis Partners</a>

From an industry leader to a defaulter: Rise and fall of Venugopal Dhoot

Prime Minister Narendra Modi on Friday said that India is moving towards becoming a leader in <keyword id="6319489" type="General" weightage="70" keywordseo="6g-technology" source="Orion">6G technology</keyword>, adding that the future is here and now. <keyword id="2238662" type="General" weightage="100" keywordseo="pm-modi" source="Orion">PM Modi</keyword> said this while inaugurating the <keyword id="4254251" type="General" weightage="80" keywordseo="Indian-Mobile-Congress" source="Orion">Indian Mobile Congress</keyword> (IMC). "We are not only expanding 5G in the country but also moving in the direction of becoming leaders in the area of <keyword id="7268171" type="General" weightage="70" keywordseo="6g" source="Orion">6G</keyword> technology. Everyone knows what happened during the 2G (referring to the spectrum allocation scam during the UPA regime). During our government, 4G was expanded but there was no stain on us. I am confident that India will lead the world in 6G technology," he said. The Prime Minister added that whether it is telecom, technology, or connectivity or whether it is 6G, AI, cybersecurity, semiconductors, drones or space sector, the future is going to be very different. "Within a year of the launch of 5G, nearly four lakh 5G base stations have been working today. They are covering 97% of the cities and more than 80% of the population," Modi said. Airtel chief <keyword id="6442632" type="General" weightage="40" keywordseo="sunil-bharti-mittal" source="Orion">Sunil Bharti Mittal</keyword>, chairman of Aditya Birla group <keyword id="6354955" type="General" weightage="40" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword> and Reliance Jio chairman <keyword id="6361416" type="General" weightage="40" keywordseo="akash-ambani" source="Orion">Akash Ambani</keyword> as well as telecom Minister <keyword id="7796574" type="General" weightage="40" keywordseo="ashwini-vaishnaw" source="Orion">Ashwini Vaishnaw</keyword> were also present on the occasion. Speaking further, PM Modi said that the world is using 'Made in India' phones while referring to the transformation which has taken in the recent past in the telecom sector. "Recently, Google has announced the manufacturing of its Pixel phone in India. Samsung's Fold 5 mobile phone and Apple's iPhone 15 are being manufactured in India. We are proud that the world is using Made in India mobile phones now," PM Modi said. India has become an exporter from a net importer, he added. "India has reached 43rd position in mobile broadband speed from the previous rank of 118," PM Modi said, adding that 2014 (when NDA came to power) is not a date, it is 'badlav' (change). Referring to various measures of the government, the Prime Minister said that access to capital, access to resources and access to technology is the government's priority. During the programme, PM Modi awarded 100 '5G Use Case Labs' to educational institutions across the country.

India moving towards becoming leader in 6G technology: PM Modi

Bharti <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> and <keyword id="6355725" type="COMPANY" weightage="20" keywordseo="tata-group">Tata Group</keyword> on Monday announced a strategic partnership for implementing 5G network solutions for <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>. Tata Group has developed "O-RAN (Open <keyword id="12905" type="COMPANY" weightage="20" keywordseo="Radio">Radio</keyword> Access Network) based Radio and NSA/SA (Non-Standalone/standalone) Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its partners", according to a joint statement. This will be available for commercial development starting January 2022. "<keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) brings its global system integration expertise and helps align the end-to-end solution to both 3GPP and O-RAN standards, as the network and equipment are increasingly embedded into software," it said. Airtel will pilot and deploy the indigenous solution as part of its 5G rollout plans in India and begin the pilot in January 2022, as per the norms formulated by the government. "These 'Made in India' 5G product and solutions are aligned to global standards, and inter-operate with other products based on standard open interfaces and those defined by the O-RAN Alliance," the statement said. The 5G solutions, once commercially proven in Airtel's diverse and brownfield network will open export opportunities for India, which is now the second-largest telecom market globally, it added. Open RAN or open radio access network architecture is industry terminology for interoperability and standardisation of radio access network elements including products and software from various vendors. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/portugals-central-bank-clears-two-crypto-exchanges-for-operations/articleshow/83705548.cms">Portugal’s central bank clears two crypto exchanges for operations</a> <a href="https://www.businessinsider.in/india/news/after-assam-up-law-commission-proposes-population-control/articleshow/83706798.cms">India’s most populous state is about to take some stringent measures to control population</a> <a href="https://www.businessinsider.in/business/startups/news/james-murdoch-plans-to-raise-150-million-from-ultra-rich-to-invest-in-indian-startups/articleshow/83709567.cms">James Murdoch plans to raise $150 million from ultra rich to invest in Indian startups</a>

Bharti Airtel and TCS to take on Reliance Jio with 'Made in India' 5G network solution

The <keyword id="189426" type="General" weightage="100" keywordseo="gsma" source="Orion">GSMA</keyword>, a global organisation that represents mobile network operators worldwide, on Monday elected Gopal Vittal, CEO of Bharti <keyword id="15491" type="General" weightage="80" keywordseo="airtel" source="Orion">Airtel</keyword> as Deputy Chair among the newly-elected members, for a two-year term beginning January 1, 2023. Jose Maria Alvarez-Pallete Lopez, CEO of Telefonica Group, will continue to be the Chair at the GSMA, the organisation said in a statement. There are 26 members of the GSMA Board. including senior representatives from global mobile operators as well as smaller independent operators. "The industry is at a pivotal point at the moment. It is more important than ever that we work together to ensure that the true potential of the mobile ecosystem benefits people, businesses and society as a whole", said Mats Granryd, GSMA Director General. He added that "we are delighted to welcome the new and re-elected Board members and we thank the outgoing GSMA Board members for their exceptional support". After graduating from IIM Calcutta in 1990, Vittal joined <keyword id="178761" type="General" weightage="50" keywordseo="hindustan-unilever-limited" source="Orion">Hindustan Unilever Limited</keyword> (<keyword id="44863" type="General" weightage="50" keywordseo="hul" source="Orion">HUL</keyword>), one of India's biggest FMCG companies. In 2006, he was roped in by <keyword id="6358599" type="General" weightage="50" keywordseo="sunil-mittal" source="Orion">Sunil Mittal</keyword>, Founder and Group CEO of Bharti Enterprises, to join Bharti Airtel as the head of marketing. His first stint at Airtel lasted till 2008 as he returned to HUL. In early 2012, Vittal re-joined Bharti Airtel. In early 2013, Airtel announced that Vittal would be the next CEO of Airtel India. He took over as the CEO on March 1. More than 750 mobile operators are full GSMA members and a further 400 companies in the broader mobile ecosystem are associate members. "I look forward to working closely with the rest of the Board, the GSMA leadership team and our entire membership to address the critical issues facing our industry and our customers," said Lopez. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/telegram-launches-new-updates-with-topics-in-groups-collectible-usernames/articleshow/95353505.cms">Telegram launches new updates with Topics in Groups, Collectible Usernames</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/signal-will-now-allow-users-to-delete-stories-before-24-hours/articleshow/95357692.cms">Signal will now allow users to delete stories before 24 hours</a>

You Searched For "bharti group" and got 6 results

Bharti to acquire about 24.5% stake in BT Group from Altice UK; deal estimated at $4 bn

PTI

Bharti Enterprises chief Sunil Bharti Mittal knighted by King Charles III

PTI

From an industry leader to a defaulter: Rise and fall of Venugopal Dhoot

PTI

India moving towards becoming leader in 6G technology: PM Modi

IANS

Bharti Airtel and TCS to take on Reliance Jio with 'Made in India' 5G network solution

PTI

Bharti Airtel CEO Gopal Vittal appointed Deputy Chair by GSMA

IANS

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