Telecom major Bharti Airtel Ltd. has announced a new corporate structure that will “sharpen the focus” on digital opportunities and enable it to “unlock value,” the company said in a media statement.
The listed company, also India’s largest telecom company by active subscribers, will house the digital businesses, whereas telecom services , infrastructure, the DTH business and the Africa business will be housed in subsidiaries. “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 Sunil MIttal, Chairman of Bharti Airtel in the statement.
In 2019, Reliance Industries Ltd. had also devised a new holding structure for its telecom and digital businesses – Reliance Jio Infocomm. That marked the beginning of an aggressive debt reduction and monetisation effort by the Mukesh Ambani – led company. Eventually, Jio Platforms raised over Rs 1.5 lakh crore by selling over 33% in equity stakes to Facebook, Google and several other strategic and financial investors.