This move comes as Bharti Airtel sets to renew its corporate structure, aiming to sharpen the company’s focus on driving the rapidly unfolding digital opportunities and monetising them
Bharti Airtel’s board has agreed to the proposition of merging its wholly owned units, which includes Nettle Infrastructure Investments Ltd, Airtel Digital Ltd and Telesonic Network Ltd, with Airtel’s parent company, as per a recent report.
Additionally, after the amalgamation takes place, the demerger of the company’s telecom business and conferring it to newly formed ‘Airtel Ltd’, has also been approved by the board.
The board approvals are for “a composite scheme of arrangement between Bharti Airtel, Nettle Infrastructure Investments, Airtel Digital, Telesonic Networks and Airtel Ltd and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013,” the conglomerate said in an exchange filing.
“[There would be] no change in the shareholding pattern of Bharti Airtel pursuant to the amalgamation of Nettle, Airtel Digital and Telesonic with and into Bharti Airtel”, the filing added.
This move comes as Bharti Airtel sets to renew its corporate structure, aiming to sharpen the company’s focus on driving the rapidly unfolding digital opportunities and monetising them. Under this new structure, all the digital and infrastructural assets of the company will be enlisted with the parent company.
Consequently, the telecom business will come under Airtel Ltd, Airtel Payments Bank, while international businesses including Airtel Africa and the infrastructure business will move under Nxtra and Indus.
But Bharti Telemedia will eventually be folded into Airtel Ltd to provide better-converged services, Bharti Airtel informed.