NEW DELHI: Bharti Airtel on Wednesday announced restructuring of shareholding pattern of its foreign subsidiaries to bring in synergies between the companies.
The company’s Board of Directors has “approved the company’s investments in its wholly-owned subsidiaries Bharti Airtel International (Mauritius) Ltd (BAIM), Bharti Airtel International (Netherlands) B.V. (BAIN), Netherlands and Bharti International (Singapore) Pte Ltd (BISPL), Singapore will be held entirely by Network i2i Ltd (Ni2i), Mauritius, another wholly-owned subsidiary of the company,” Bharti Airtel said in a regulatory filing.
It added that BAIN will continue to hold the shareholding in African operating companies and the company's investments in its wholly-owned subsidiaries Bharti Airtel (USA) Ltd, Bharti Airtel (Hong Kong) Ltd and Bharti Airtel (UK) Ltd will be held entirely by BISPL, another wholly-owned subsidiary of the company.
“The resultant ‘vertical step by step shareholding structure’ envisaged by the above restructuring aims to offer number of benefits including delayering and simplification of structure and synergies without any change in ultimate ownership over the said subsidiaries,” it added.
