India-headquartered Bharti Airtel unveiled a corporate restructuring plan placing digital initiatives at the core of all its businesses, with the goal of better positioning the company to tap new opportunities.
The new structure was approved by the board and involved Airtel Digital becoming part of the listed entity Bharti Airtel, housing assets including Airtel X stream, Mitra Payments platform, Airtel Secure and Airtel Cloud.
Bharti Airtel will operate four main business units: Digital; India; International; and Infrastructure.
Chairman Sunil Mittal stated the new structure set an “exciting future course” for the company and provides focus on the four distinct businesses.
“We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly while providing flexibility to unlock value for our shareholders.”
Bharti Airtel said it will house all telecoms businesses in newly created entity, Airtel. Bharti Telemedia, a provider of direct-to-home services, will remain separate, but will eventually be folded into the wholly owned subsidiary.
Airtel Payments Bank also will remain a separate unit. Its Indus Towers and Nxtra infrastructure businesses will continue to operate as separate entities, as will its international subsidiaries and affiliates.
The company said it will file for approvals for the proposed restructuring.