Home Cellphone Talks Bharti Airtel board approves merger of broadband services subsidiary

Bharti Airtel board approves merger of broadband services subsidiary

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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.

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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 once renamed Airtel Broadband products and services.

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Airtel had bought a 49 % stake in WBSPL in may 2012 for USD a hundred sixty five million. the corporate elevated its stake in WBSPL to fifty-one p.c 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.