Bharti Airtel on Wednesday introduced a new corporate structure to sharpen the focus of the company in driving the rapidly unfolding digital opportunity in India while enabling it to unlock value.
The new structure envisages Airtel Digital folding into the listed entity Bharti Airtel. This will now house all of the digital assets spanning 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.
"The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses - Digital, India, International and Infrastructure, each, in a razor sharp way," said Chairman Sunil Bharti Mittal.
"We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders, he said in a statement.
Airtel said the company's ambition is closely intertwined with the spine that connectivity provides across the country.
It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd -- a wholly-owned subsidiary of Bharti Airtel Ltd.
Bharti Telemedia, the 100 per cent arm operating DTH services will sit alongside Airtel Ltd for now. It is intended to eventually fold the DTH business into Airtel Ltd to move towards the NDCP vision of converged services to customers.
Airtel Payments Bank will remain a separate entity under Bharti Airtel and work closely with the growing customer base to play a pivotal role in realising the digital opportunity that payments and financial services provide.
All of the company's infrastructure businesses like Nxtra and Indus Towers will continue to remain in separate entities as they are currently. So will international subsidiaries and affiliates.
( With inputs from ANI )
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