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With UK govt's backing, Sunil Mittal bids for SoftBank-backed OneWeb: Report

An arm of Mittal’s Bharti Enterprises Ltd. conglomerate made an offer for the bankrupt satellite firm with backing from the UK govt, according to the people with knowledge of the matter
Indian telecommunications tycoon Sunil Mittal has submitted a bid for OneWeb, the bankrupt satellite firm whose investors include SoftBank Group Corp., people with knowledge of the matter said.
An arm of Mittal’s Bharti Enterprises Ltd. conglomerate made an offer for London-based OneWeb with backing from the U.K. government, according to the people, who asked not to be identified because the information is private.
The UK government plans to commit around $500 million to OneWeb alongside other investors as part of the company’s Chapter 11 bankruptcy proceedings, a person with knowledge of the matter said last week. OneWeb has said that bids were due Friday.

I wonder if Fastjet can do this to free up some cash ...
EasyJet PLC said on Friday that it has sold and leased back six aircraft for aggregate cash sales of $255 million.

The London-listed company said the aircraft will be sold to SMBC Aviation Capital and leased back for terms of between 110 and 122 months.

The low-cost carrier said the proceeds from the A320 neo aircraft will be used to maximize liquidity and further strengthen its financial position.

"EasyJet and SMBC Aviation Capital have also identified other unencumbered aircraft in the easyJet fleet and, if easyJet decide to sell these aircraft over the next 18 months, SMBC Aviation Capital will be our preferred partner for the transaction under financial metrics equivalent to those already established in the transaction announced today," the company said

Its very unclear ... is the company going to be suspended or going into liquidation? What is the aim of the reverse takeover?

I have flown Fastjet in Africa a few times. They are a real professional outfit. Always on schedule, clean and excellent staff. I also met Solenta who are the owners and investors of this company and they had big plans for them. The challenge is whether they will continue to fund their debt or whether Stelios or another investor will swoop in. I know the SA govt will be propping up SA Airways and all airlines are getting support. People in Africa will fly again but maybe not until Q3 / Q4 as the virus reduces on the continent. I have bought into this company and believe this is a great price as a punt. .... if they can survive the next 3 months, they will definately expand and occupancy will be between 40 and 60% soon.

https://theprint-in.cdn.ampproject.org/c/s/theprint.in/economy/mukesh-ambani-vs-sunil-mittal-the-telecom-war-is-back/435968/?amp

It's hard to work out the fair market price on this stock but mobile data in Africa is growing exponentially. Look at the market cap of Vodafone and bt and they have limited access to the Africa market due to lack of licences, spectrum and customers. I can see this being a 5 pound stock next year

I work in Telecoms and Airtel is the 2nd largest operator in India behind Reliance. Facebook has recently acquired a 6% percent stake in Reliance to access the 1.4 billion people on phones in India. Looks like Amazon wants a piece of the same. I have also done business with Airtel Africa and they are effectively governed by HQ in India ... anything that happens in India, can be replicated across Africa. The opportunity to drive massive sales into Africa is huge .... whether it be mobile phone traffic, Internet or Enterprise. This company looks extremely undervalued compared to other Telcos in the world ...