Telecom major Bharti Airtel Thursday mentioned its board-licensed the merger of absolutely owned subsidiary Airtel Broadband services. The amalgamation will probably be subject to approvals, together with clearances from excessive courts, if any, the company said in a filing to the BSE.
The Board of administrators of the corporate has authorized the scheme of amalgamation of Airtel Broadband services non-public restricted (previously known as wireless business services and products non-public limited), a wholly-owned subsidiary, with the corporate,” it stated.
Bharti Airtel recently acquired a 100% stake in wi-fi business services and products (WBSPL), founded using US chipmaker Qualcomm. After the acquisition, the company was renamed Airtel Broadband products and services.
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Airtel had bought a 49 % stake in WBSPL in May 2012 for USD 165 million. The corporation elevated its stake in WBSPL to fifty-one percent in July. WBSPL has spectrum that can be utilized for top-pace 4G services in New Delhi, Mumbai, Haryana, and Kerala. Airtel has an identical spectrum in Punjab, Maharashtra, Kolkata, and Karnataka. Airtel has already launched 4G services and products in Bangalore, Pune, Kolkata, Chandigarh, Mohali, and Panchkula.
