Shares of Bharti Airtel Ltd soared 3% on 12 March after the company announced that the company had signed an agreement with SpaceX to bring Starlink’s satellite broadband to India. The deal depends on the government allowing SpaceX to provide Starlink services in the country.
As part of this partnership, SpaceX and Airtel will look into potential joint ventures, according to the press release that Airtel sent.
Airtel may sell Starlink devices in its retail stores and offer Starlink’s services to businesses. They also plan to use Starlink to give internet access to rural schools, medical facilities, and distant areas. Furthermore, Airtel and SpaceX will look into how Starlink may support Airtel’s network and how SpaceX might use Airtel’s infrastructure in India.
Airtel already works with Eutelsat OneWeb for satellite internet. Airtel would be able to reach more locations with inadequate or nonexistent internet access by integrating Starlink. Additionally, towns and companies in remote places will have more options for high-speed internet.
Gopal Vittal, Managing Director and Vice Chairman, Bharti Airtel, said, “Working with SpaceX to offer Starlink to Airtel customers in India is a significant milestone and further demonstrates our commitment to next-generation satellite connectivity.”
“This collaboration enhances our ability to bring world-class high-speed broadband to even the most remote parts of India, ensuring that every individual, business, and community has reliable internet. Starlink will complement and enhance Airtel’s suite of products to ensure reliable and affordable broadband for our Indian customers wherever they live and work,” he added.
Gwynne Shotwell, President of SpaceX, said, “We are excited to work with Airtel and unlock the transformative impact Starlink can bring to the people of India. We are constantly amazed by the incredible and inspiring things that people, businesses and organisations do when they are connected via Starlink.”
Gwynne added that Airtel has played a crucial role in the Indian telecom journey, so working with Airtel makes perfect sense for our business.
However, at 2:10 pm, the shares of Bharti Airtel shed all their early gains and were trading 1.65% lower at Rs 1,635.45 on NSE.
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