Bharti Airtel withdraws corporate structure plans announced in April 2021

In a stock exchange filing, Bharti Airtel advised that the company had withdrawn the plan of arrangement for the new corporate structure announced in April last year.

The statement said the board is confident that the company’s existing corporate structure is optimal to take advantage of emerging opportunities and unlock value while continuing to grow Airtel’s digital business.

The company said the telecommunications sector reform package announced by the government had boosted investors’ prospects and confidence in the industry while simplifying the licensing framework. “With a strong balance sheet and a 5G-ready network, Bharti Airtel is well positioned to invest aggressively in the emerging growth opportunities offered by India’s digital economy,” he said.

Bharti’s business will continue to be categorized into four verticals, namely India, Digital, International and Infrastructure.

The company will merge its wholly owned subsidiary Telesonic Networks Limited, resulting in the consolidation of its fiber assets into Airtel. Nettle Infrastructure Investments Limited will also be merged. Bharti further announced that it will continue with its plan to eventually integrate the DTH (Bharti Telemedia) business into Airtel to move towards the NDCP vision of converged customer services.