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Airtel To Merge With Hughes India Unit
May 14, 2019
Telecommunications giant, Bharti Airtel has decided to merge it’s broadband satellite (VSAT) business with that of market leader Hughes Communications India. This call to action has initiated so as to create a stronger satellite power in space, in a bit to increase scale, improve operational efficiencies, and target new customers in areas such as in-flight connectivity.
With this decision, Hughes Communications will own 67% share of the new entity while Airtel will own the rest. A name change for Airtel to Hughes Communications India Ltd.is also in order, but this will take place only after completion of the merger. The closure of the deal itself may take between 9 to 12 months, depending on regulatory clearances, and the merged entity will have a combined share of 63%.
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