To further focus on digital opportunities in the country, Bharti Airtel announced a new corporate structure on Wednesday. The new structure envisages the consolidation of Airtel Digital Limited into the listed entity, Bharti Airtel. This will now host all Wynk Music digital assets, Airtel X stream, Airtel Thanks, Mitra Payments, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services.
Airtel Limited – a wholly owned subsidiary of Bharti Airtel Limited, will house all telecommunications activities, the company said. Bharti Telemedia, the arm operating DTH services, will sit alongside Airtel Limited for now, the telecom operator said. It will eventually integrate the DTH business into Airtel Limited to evolve into NDCP’s vision of converged customer services, the company added.
“Airtel Payments Bank will remain a separate entity under Bharti Airtel and will work closely with the growing customer base to play a pivotal role in realizing the digital opportunity that payments and financial services provide,” the company said.
“All of the company’s infrastructure businesses such as Nxtra and Indus Towers will continue to remain in separate entities as they currently are. The same will apply to international subsidiaries and affiliates,” the telecommunications major said in a statement.
“The new structure defines the exciting future of Bharti Airtel and emphasizes the four distinct businesses – Digital, Indian, International and Infrastructure, each, in a very clear way,” said Sunil Bharti Mittal, Chairman of Bharti. Airtel.
“We believe this will bring agility, expertise and operational rigor to serve our customers with flying colors while providing flexibility to unlock value for our shareholders. This structure will serve us well over the next few years and is a win-win solution for all stakeholders,” added Mittal. .
The telecom giant is also asking the government for clarification on the licensing policy. The board approved the new structure on Monday.