Bharti Airtel Ltd announced a new corporate structure that will make telecom to sharpen its focus on digital assets

CIOReviewIndia Team | Thursday, 15 April 2021, 04:16 IST

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Bharti Airtel Ltd announced a new corporate structure that will make telecom to sharpen its focus on digital assetsBharti Airtel Ltd on Wednesday declared a new corporate structure that will make the telecom to sharpen its focus on digital assets and unlock value from India’s digital opportunity.

The telecom has formed a new subsidiary, Airtel Ltd, which will house all its telecom business. The digital assets, including Wynk Music,  Airtel Xstream,  Airtel Thanks,  Mitra Payments,  Airtel Ads,   Airtel IQ,  Airtel Secure and Airtel Cloud, which were earlier under the Airtel Digital Ltd subsidiary,  have been merged with the parent company, it stated in an exchange filing.

Bharti Telemedia Ltd, a wholly-owned direct-to-home (DTH) subsidiary of the telecom, will continue to operate as a separate entity for now but will eventually it will be joined with Airtel Ltd, the company stated.

The company has sought clarity from the government on licensing policy of telecom and DTH services as they are being regulated and managed under the two separate ministries of communications and information and broadcasting, respectively, company stated.

Airtel Payments Bank is a digital asset, but it will remain a separate entity under the telecom and will continue to work closely with the growing customer base. This will assist the telecom realize the value provided by payments and financial services sector, company added.

“The new structure sets the exciting future course for Bharti Airtel and puts focus on four distinct businesses—digital, India, international and infra, each in a razor-sharp way," stated Sunil Mittal, chairperson, Bharti Airtel.

The new structure will serve the company in the coming years and is a “win-win" for all stakeholders, Mittal added.

Bharti Airtel’s infrastructure business such as Nxtra Data Ltd and Indus Towers Ltd will function as separate entities in their current form. International subsidiaries and affiliates, including Airtel Africa Plc and Bharti Airtel Lanka (Pvt) Ltd, will continue to operate as separate firms.

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