Bharti Airtel unveils new structure to focus on digital

Singtel joint venture company Bharti Airtel has announced a new corporate structure so it can "sharpen (its) focus on digital" and unlock value.

Bharti Airtel chairman Sunil Bharti Mittal said: "The new structure... provides focus on the four distinct businesses - digital, India, international and infrastructure, each in a razor-sharp way."

Under the new structure, Airtel Digital will be folded into the listed entity Bharti Airtel. This will house all its digital assets such as Wynk Music, Airtel Xstream and the Mitra payments platform.

The India segment will house all the telecommunications businesses under a new entity Airtel Limited, a wholly owned subsidiary of Bharti Airtel.

Bharti Telemedia, which operates direct-to-home television services, will eventually be folded into Airtel Limited.

Airtel Payments Bank will continue as a separate entity under Bharti Airtel and will work closely with its growing customer base to realise the digital opportunity that payments and financial services provide, said the company.

Entities in the company's infrastructure business, as well as its international subsidiaries and affiliates, will remain in separate entities as they are now, said Bharti Airtel on Wednesday.

Mr Mittal said: "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."

THE BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on April 16, 2021, with the headline 'Bharti Airtel unveils new structure to focus on digital'. Subscribe