Bharti Airtel announces new corporate structure to focus on digital

Bharti Airtel has announced a new corporate structure to sharpen the company’s focus in driving the rapidly growing digital opportunity in India while enabling it to unlock value.

The new structure envisages the consolidation of Airtel Digital Limited into the listed entity, Bharti Airtel. This will now host all digital assets covering Wynk Music, Airtel X stream, Airtel Thanks, Mitra Payments platform used by a million retailers, Airtel Ads, Airtel IQ, Airtel Secure, Airtel Cloud and all future digital products and services .

Bharti Airtel’s digital ambition is intertwined with the backbone that connectivity provides across the country. It is therefore intended to consolidate all telecommunications activities in a newly created entity, Airtel Limited – a 100% subsidiary of Bharti Airtel.

Bharti Telemedia, the wholly owned subsidiary operating DTH services, will for the time being be alongside Airtel Limited. There are plans to eventually integrate the DTH business into Airtel Limited to evolve towards the NDCP vision of converged customer services. The company has pushed the government for clarification on licensing policy given that transport, i.e. telecommunications and DTH, is currently regulated and managed by two separate ministries of communications and the I&B respectively.

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 offered by payments and financial services.

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 board, at its meeting held on Wednesday, approved the scheme allowing the company to file all statutory approvals to give effect to the proposed redevelopment.

Sunil Bharti Mittal, Chairman of Bharti Airtel, said the new structure sets Bharti Airtel’s exciting future path and emphasizes the four distinct businesses – Digital, India, International and Infrastructure, each in a very clear way.

The announcement was made on Wednesday, April 14, 2021. Bharti Airtel shares were up 2.61% at Rs 536 on Tuesday, April 13, 2021.

Bharti Airtel is a global communications solutions provider with over 458 million customers in 18 countries in South Asia and Africa. The company ranks among the top three mobile operators in the world and its networks cover more than two billion people. Airtel is the largest provider of integrated communications solutions in India and the second largest mobile operator in Africa.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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