iWorld
Airtel Business and Sparkle sign Blue-Raman capacity agreement
Mumbai: Bharti Airtel’s B2B arm Airtel Business has signed an agreement with Sparkle, the first international service provider in Italy and a top global operator, for additional capacity on a diversified low latency route between Asia and Europe.
Under the agreement, Airtel will take capacity from Sparkle on the Blue-Raman Submarine Cable Systems, which will connect India to Italy. With this additional capacity, Airtel will further diversify its global network across multiple international submarine cable systems to serve the growing demand for data services in India and neighbouring countries.
The two companies will also work together on the development of new business opportunities and projects in the Indian sub-continent, leveraging their respective cable infrastructures.
Airtel Business CEO – global business, Vani Venkatesh said, “We are happy to partner with Sparkle as we further consolidate our leadership in global connectivity. This partnership will further diversify our network with large integrated capacities to meet the ever-growing connectivity needs and data demand of our customers.”
Sparkle CEO Enrico Bagnasco added, “We are very pleased with this agreement, based on the new solution provided by Blue & Raman, that supports the digital growth of the region and strengthens our historical partnership with Bharti Airtel.”
Airtel Business is a provider of ICT services, with submarine cables, satellite networks, and global networks spanning over 400,000 Rkms across 50 countries and five continents. The company has over 1,200 global carrier partnerships, allowing it to connect customers worldwide, including in remote areas. In India, Airtel Business provides a range of solutions, including secure connectivity, cloud and data center services, cyber security, IoT, and cloud-based communications to enterprises, governments, carriers, and small and medium businesses.
iWorld
Universal Music to sell half its Spotify stake, expand buyback plan
Ackman pressure mounts as label posts €2.9bn revenue and strong subscription growth
HILVERSUM: Universal Music Group has unveiled plans to sell half of its stake in Spotify and double its share buyback programme to €1 billion, signalling a sharper capital strategy as investor scrutiny intensifies.
The company said it will launch an additional €500 million buyback after completing the €500 million programme announced in March, taking the total authorisation to €1 billion. Proceeds from the Spotify stake sale will help fund the buyback and will also be shared with artists, in line with long-standing commitments.
The move comes amid pressure from billionaire investor Bill Ackman, whose firm Pershing Square Capital Management holds over 4.5 per cent of UMG. Ackman recently made an unsolicited offer valuing the company at around $64 billion to $65 billion and has argued that the label’s shares are undervalued.
As part of his proposal, Ackman suggested selling the entire Spotify stake to raise €1.5 billion after taxes and artist payouts, while also pushing for a US listing and changes to the company’s financial reporting structure. UMG’s board has instead opted to move independently, approving a partial stake sale on its own terms.
The decision also aligns with what is informally known as the “Taylor Swift clause”, a commitment made when Taylor Swift re-signed with the label in 2018, ensuring that any proceeds from Spotify stake sales are shared with artists on a non-recoupable basis.
With investor pressure building and strategic levers now in motion, UMG appears to be striking a careful balance between rewarding shareholders and reinforcing its long-term growth play in the streaming era.
