Airtel, which is locked in a fierce competition with Reliance Jio in the telecom space, aims to align the ownership of its consumer-facing businesses, with the Warburg Pincus transaction
Bharti Airtel on Wednesday initiated the first step to unlock the value ofits digital businesses by setting up a special committee of its boardof directors.
Airtel said the committee would evaluate various options for the re-organisation of businesses and shareholding structure of the company and its various subsidiaries to achieve the required flexibility and sharper focus on digital and non-telecom businesses. This, it said, would enable any unlocking of enhanced value for its stakeholders.
The company also announced the acquisition of Warburg Pincus’s 20 per cent stake in its direct-to-home (DTH) arm.
Airtel, which is locked in a fierce competition with Reliance Jio in the telecom space, aims to align the ownership of its consumer-facing businesses, with the Warburg Pincus transaction. Separately the Sunil Mittal-led company is looking to scale up and monetise its digital businesses, which include music streaming app Wynk, content platform Xstream, cloud-based communication platform Airtel IQ, among others.
The digital assets have around 190 million customers and contribute around Rs 100 crore in revenue annually. The company hopes to increase it to over Rs 1,000 crore, Mittal said in a recent media interaction.
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