Telecom major Bharti Airtel Thursday mentioned its board licensed the merger of absolutely owned subsidiary Airtel Broadband services with itself.
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 just lately acquired a 100% stake in wi-fi business services and products (WBSPL), a company founded by means of US chipmaker Qualcomm. Subsequent to 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 identical spectrum in Punjab, Maharashtra, Kolkata and Karnataka.
Airtel has already launched 4G services and products in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.