![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
Read also<\/h4><\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/span>ETTelecom Interviews: Bharti Airtel India & SA CEO Gopal Vittal<\/a><\/div><\/div>
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Airtel引入了新的公司结构关注数字资产
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司下Airtel Airtel支付银行国际业务包括非洲Airtel和基础设施业务在Nxtra和印度河。
新德里消息:Bharti Airtel发布了一个新的公司结构,将它保存所有数字资产,而将电信企业移动到一个新创建的单元,旅馆有限公司此举提高苏尼尔Mittal-led实体对数字业务的关注,帮助货币化。新结构也将删除电信监管过剩Airtel的数字业务,降低法定责任相关移动业务。
“新结构设想Airtel数码有限公司折叠成上市实体,Bharti Airtel,”在周三一份公司声明中表示。这将包括Wynk音乐Airtel Xstream,Airtel谢谢应用,Mitra支付平台,Airtel广告,Airtel智商,Airtel安全,Airtel云和未来所有的数码产品和服务。
“数字的野心Bharti Airtel与脊柱紧密交织在一起,连接提供了全国各地。因此,为了房子所有的电信企业在一个新创建的实体,旅馆有限公司Bharti Airtel Ltd .)的全资附属公司,”声明说。
分析人士说,自上市实体也将数字Bharti Airtel,类似于Jio平台,它将更好地吸引全球科技公司和私人股本公司的投资。
独立的单位
周三董事会批准该计划,使公司为所有法定的批准文件给拟议中的重排效应。该公司声明中没有指定当更改生效。
直到现在,Bharti Airtel住印度电信业务,数字资产Airtel数字,国际业务包括Airtel非洲,付款银行数据中心Nxtra之下,印度塔和direct-to-home Bharti电讯传媒下(DTH)业务。
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司在附近的旅馆,Airtel支付银行非洲和基础设施业务,国际业务包括Airtel Nxtra和印度河。
然而,Bharti电讯传媒最终将被并入Airtel公司提供更好的聚合服务,Bharti Airtel说。
“公司已经政府寻求明确许可政策,考虑到运输,电信和对数,目前在两个独立的部门,监管和管理通信和i b分别”。
Bharti Airtel股票上涨2.6%,收于536卢比的疯牛病周二,优于Sensex,上涨了1.4%。Airtel的声明之后市场的时间。
四个企业
“新结构集Bharti Airtel的激动人心的未来走向,并提供集中在四个不同的企业——数字,印度,国际和基础设施,每个锋利,“Bharti Airtel董事长苏尼尔•米塔尔在一份声明中说。“我们认为这将提供敏捷,专业知识和操作严谨出色的服务客户,同时提供灵活性,解锁为我们的股东价值。这种结构在未来几年将对我们非常有用和所有利益相关者是双赢。”
米塔尔曾说等2月Airtel重组的业务带来更多关注数字资产,它甚至可以在两到三年内上市。
Bharti Airtel仍将上市,股权结构没有变化。新单位Airtel的股权将新的母公司的镜子。
目前,直接或间接,Mittal-owned实体控制约24%的Bharti Airtel,而co-promoter新加坡电信拥有31.7%。在重组之前,Bharti Airtel稀释约0.7%的股份华平从属和一些现金支付回购美国基金的20% Bharti电讯传媒公司的对数。
“全球科技公司热衷于购买到低风险数字服务业务,而不是主线连接业务更容易变幻莫测的监管环境,可能会发现这有吸引力,”分析师表示。然而,盈利可能需要一些时间,因为它只会发生一次Airtel的数字服务从目前水平收入显著增长,他说。
新结构是信实的。去年,穆克什Ambani-owned公司建立Jio平台的数字和信实电信资产。去年Jio平台收到投资超过十万的1.52卢比,13投资者出售约33%,其中包括Facebook、谷歌、英特尔和高通。Jio平台也是父母的依赖Jio Infocomm,印度电信市场的领导者。
减少负债
目前,Airtel数字每月约有2亿活跃用户。
米塔尔告诉ET,重组将需要几个月的时间和投资在数字业务将寻求扩大后从100卢比到1000卢比的收入。重组也将确保数字服务——不受电信牌照监管——没有监管的电信服务,分析师说。
“最新组织调整应该减少母亲上市实体的债务——Bharti Airtel的法定支出与调整后的总收益(AGR),如许可证费用和频谱的使用费用,一块这样的监管支出将由新的电信业务部门承担,旅馆,”一位分析师说。
换句话说,电信部门的AGR责任应该下降,因为它现在只有连接操作,没有别的,而结构早些时候Bharti Airtel举行一切,分析师说。电信公司需要支付许可证费用和频谱使用政府基于其AGR的指控。
2019年9月最高法院命令AGR的定义扩大到包括非核心项目,增加移动电话公司的法定责任。
<\/span><\/figcaption><\/figure>New Delhi: Bharti Airtel<\/a> unveiled a new corporate structure that will see it hold all digital assets, while moving the telecom businesses into a newly created unit, Airtel Ltd. The move sharpens the Sunil Mittal-led entity’s focus on digital operations and helps monetise them. The new structure will also remove telecom regulatory overhang on Airtel’s digital businesses and reduce statutory liabilities related to its mobility business.
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
<\/span><\/figcaption><\/figure>
Read also<\/h4><\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/span>ETTelecom Interviews: Bharti Airtel India & SA CEO Gopal Vittal<\/a><\/div><\/div>
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- Telecom乐动扑克News
- 5分钟读
Airtel引入了新的公司结构关注数字资产
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司下Airtel Airtel支付银行国际业务包括非洲Airtel和基础设施业务在Nxtra和印度河。
新德里消息:Bharti Airtel发布了一个新的公司结构,将它保存所有数字资产,而将电信企业移动到一个新创建的单元,旅馆有限公司此举提高苏尼尔Mittal-led实体对数字业务的关注,帮助货币化。新结构也将删除电信监管过剩Airtel的数字业务,降低法定责任相关移动业务。
“新结构设想Airtel数码有限公司折叠成上市实体,Bharti Airtel,”在周三一份公司声明中表示。这将包括Wynk音乐Airtel Xstream,Airtel谢谢应用,Mitra支付平台,Airtel广告,Airtel智商,Airtel安全,Airtel云和未来所有的数码产品和服务。
“数字的野心Bharti Airtel与脊柱紧密交织在一起,连接提供了全国各地。因此,为了房子所有的电信企业在一个新创建的实体,旅馆有限公司Bharti Airtel Ltd .)的全资附属公司,”声明说。
分析人士说,自上市实体也将数字Bharti Airtel,类似于Jio平台,它将更好地吸引全球科技公司和私人股本公司的投资。
独立的单位
周三董事会批准该计划,使公司为所有法定的批准文件给拟议中的重排效应。该公司声明中没有指定当更改生效。
直到现在,Bharti Airtel住印度电信业务,数字资产Airtel数字,国际业务包括Airtel非洲,付款银行数据中心Nxtra之下,印度塔和direct-to-home Bharti电讯传媒下(DTH)业务。
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司在附近的旅馆,Airtel支付银行非洲和基础设施业务,国际业务包括Airtel Nxtra和印度河。
然而,Bharti电讯传媒最终将被并入Airtel公司提供更好的聚合服务,Bharti Airtel说。
“公司已经政府寻求明确许可政策,考虑到运输,电信和对数,目前在两个独立的部门,监管和管理通信和i b分别”。
Bharti Airtel股票上涨2.6%,收于536卢比的疯牛病周二,优于Sensex,上涨了1.4%。Airtel的声明之后市场的时间。
四个企业
“新结构集Bharti Airtel的激动人心的未来走向,并提供集中在四个不同的企业——数字,印度,国际和基础设施,每个锋利,“Bharti Airtel董事长苏尼尔•米塔尔在一份声明中说。“我们认为这将提供敏捷,专业知识和操作严谨出色的服务客户,同时提供灵活性,解锁为我们的股东价值。这种结构在未来几年将对我们非常有用和所有利益相关者是双赢。”
米塔尔曾说等2月Airtel重组的业务带来更多关注数字资产,它甚至可以在两到三年内上市。
Bharti Airtel仍将上市,股权结构没有变化。新单位Airtel的股权将新的母公司的镜子。
目前,直接或间接,Mittal-owned实体控制约24%的Bharti Airtel,而co-promoter新加坡电信拥有31.7%。在重组之前,Bharti Airtel稀释约0.7%的股份华平从属和一些现金支付回购美国基金的20% Bharti电讯传媒公司的对数。
“全球科技公司热衷于购买到低风险数字服务业务,而不是主线连接业务更容易变幻莫测的监管环境,可能会发现这有吸引力,”分析师表示。然而,盈利可能需要一些时间,因为它只会发生一次Airtel的数字服务从目前水平收入显著增长,他说。
新结构是信实的。去年,穆克什Ambani-owned公司建立Jio平台的数字和信实电信资产。去年Jio平台收到投资超过十万的1.52卢比,13投资者出售约33%,其中包括Facebook、谷歌、英特尔和高通。Jio平台也是父母的依赖Jio Infocomm,印度电信市场的领导者。
减少负债
目前,Airtel数字每月约有2亿活跃用户。
米塔尔告诉ET,重组将需要几个月的时间和投资在数字业务将寻求扩大后从100卢比到1000卢比的收入。重组也将确保数字服务——不受电信牌照监管——没有监管的电信服务,分析师说。
“最新组织调整应该减少母亲上市实体的债务——Bharti Airtel的法定支出与调整后的总收益(AGR),如许可证费用和频谱的使用费用,一块这样的监管支出将由新的电信业务部门承担,旅馆,”一位分析师说。
换句话说,电信部门的AGR责任应该下降,因为它现在只有连接操作,没有别的,而结构早些时候Bharti Airtel举行一切,分析师说。电信公司需要支付许可证费用和频谱使用政府基于其AGR的指控。
2019年9月最高法院命令AGR的定义扩大到包括非核心项目,增加移动电话公司的法定责任。
<\/span><\/figcaption><\/figure>New Delhi: Bharti Airtel<\/a> unveiled a new corporate structure that will see it hold all digital assets, while moving the telecom businesses into a newly created unit, Airtel Ltd. The move sharpens the Sunil Mittal-led entity’s focus on digital operations and helps monetise them. The new structure will also remove telecom regulatory overhang on Airtel’s digital businesses and reduce statutory liabilities related to its mobility business.
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
<\/span><\/figcaption><\/figure>
Read also<\/h4><\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/span>ETTelecom Interviews: Bharti Airtel India & SA CEO Gopal Vittal<\/a><\/div><\/div>
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Airtel引入了新的公司结构关注数字资产
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司下Airtel Airtel支付银行国际业务包括非洲Airtel和基础设施业务在Nxtra和印度河。
新德里消息:Bharti Airtel发布了一个新的公司结构,将它保存所有数字资产,而将电信企业移动到一个新创建的单元,旅馆有限公司此举提高苏尼尔Mittal-led实体对数字业务的关注,帮助货币化。新结构也将删除电信监管过剩Airtel的数字业务,降低法定责任相关移动业务。
“新结构设想Airtel数码有限公司折叠成上市实体,Bharti Airtel,”在周三一份公司声明中表示。这将包括Wynk音乐Airtel Xstream,Airtel谢谢应用,Mitra支付平台,Airtel广告,Airtel智商,Airtel安全,Airtel云和未来所有的数码产品和服务。
“数字的野心Bharti Airtel与脊柱紧密交织在一起,连接提供了全国各地。因此,为了房子所有的电信企业在一个新创建的实体,旅馆有限公司Bharti Airtel Ltd .)的全资附属公司,”声明说。
分析人士说,自上市实体也将数字Bharti Airtel,类似于Jio平台,它将更好地吸引全球科技公司和私人股本公司的投资。
独立的单位
周三董事会批准该计划,使公司为所有法定的批准文件给拟议中的重排效应。该公司声明中没有指定当更改生效。
直到现在,Bharti Airtel住印度电信业务,数字资产Airtel数字,国际业务包括Airtel非洲,付款银行数据中心Nxtra之下,印度塔和direct-to-home Bharti电讯传媒下(DTH)业务。
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司在附近的旅馆,Airtel支付银行非洲和基础设施业务,国际业务包括Airtel Nxtra和印度河。
然而,Bharti电讯传媒最终将被并入Airtel公司提供更好的聚合服务,Bharti Airtel说。
“公司已经政府寻求明确许可政策,考虑到运输,电信和对数,目前在两个独立的部门,监管和管理通信和i b分别”。
Bharti Airtel股票上涨2.6%,收于536卢比的疯牛病周二,优于Sensex,上涨了1.4%。Airtel的声明之后市场的时间。
四个企业
“新结构集Bharti Airtel的激动人心的未来走向,并提供集中在四个不同的企业——数字,印度,国际和基础设施,每个锋利,“Bharti Airtel董事长苏尼尔•米塔尔在一份声明中说。“我们认为这将提供敏捷,专业知识和操作严谨出色的服务客户,同时提供灵活性,解锁为我们的股东价值。这种结构在未来几年将对我们非常有用和所有利益相关者是双赢。”
米塔尔曾说等2月Airtel重组的业务带来更多关注数字资产,它甚至可以在两到三年内上市。
Bharti Airtel仍将上市,股权结构没有变化。新单位Airtel的股权将新的母公司的镜子。
目前,直接或间接,Mittal-owned实体控制约24%的Bharti Airtel,而co-promoter新加坡电信拥有31.7%。在重组之前,Bharti Airtel稀释约0.7%的股份华平从属和一些现金支付回购美国基金的20% Bharti电讯传媒公司的对数。
“全球科技公司热衷于购买到低风险数字服务业务,而不是主线连接业务更容易变幻莫测的监管环境,可能会发现这有吸引力,”分析师表示。然而,盈利可能需要一些时间,因为它只会发生一次Airtel的数字服务从目前水平收入显著增长,他说。
新结构是信实的。去年,穆克什Ambani-owned公司建立Jio平台的数字和信实电信资产。去年Jio平台收到投资超过十万的1.52卢比,13投资者出售约33%,其中包括Facebook、谷歌、英特尔和高通。Jio平台也是父母的依赖Jio Infocomm,印度电信市场的领导者。
减少负债
目前,Airtel数字每月约有2亿活跃用户。
米塔尔告诉ET,重组将需要几个月的时间和投资在数字业务将寻求扩大后从100卢比到1000卢比的收入。重组也将确保数字服务——不受电信牌照监管——没有监管的电信服务,分析师说。
“最新组织调整应该减少母亲上市实体的债务——Bharti Airtel的法定支出与调整后的总收益(AGR),如许可证费用和频谱的使用费用,一块这样的监管支出将由新的电信业务部门承担,旅馆,”一位分析师说。
换句话说,电信部门的AGR责任应该下降,因为它现在只有连接操作,没有别的,而结构早些时候Bharti Airtel举行一切,分析师说。电信公司需要支付许可证费用和频谱使用政府基于其AGR的指控。
2019年9月最高法院命令AGR的定义扩大到包括非核心项目,增加移动电话公司的法定责任。
<\/span><\/figcaption><\/figure>New Delhi: Bharti Airtel<\/a> unveiled a new corporate structure that will see it hold all digital assets, while moving the telecom businesses into a newly created unit, Airtel Ltd. The move sharpens the Sunil Mittal-led entity’s focus on digital operations and helps monetise them. The new structure will also remove telecom regulatory overhang on Airtel’s digital businesses and reduce statutory liabilities related to its mobility business.
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
<\/span><\/figcaption><\/figure>
Read also<\/h4><\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
ETTelecom Interviews: Bharti Airtel India & SA CEO Gopal Vittal<\/a><\/div><\/div>
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新德里消息:Bharti Airtel发布了一个新的公司结构,将它保存所有数字资产,而将电信企业移动到一个新创建的单元,旅馆有限公司此举提高苏尼尔Mittal-led实体对数字业务的关注,帮助货币化。新结构也将删除电信监管过剩Airtel的数字业务,降低法定责任相关移动业务。
“新结构设想Airtel数码有限公司折叠成上市实体,Bharti Airtel,”在周三一份公司声明中表示。这将包括Wynk音乐Airtel Xstream,Airtel谢谢应用,Mitra支付平台,Airtel广告,Airtel智商,Airtel安全,Airtel云和未来所有的数码产品和服务。
“数字的野心Bharti Airtel与脊柱紧密交织在一起,连接提供了全国各地。因此,为了房子所有的电信企业在一个新创建的实体,旅馆有限公司Bharti Airtel Ltd .)的全资附属公司,”声明说。
分析人士说,自上市实体也将数字Bharti Airtel,类似于Jio平台,它将更好地吸引全球科技公司和私人股本公司的投资。
独立的单位
周三董事会批准该计划,使公司为所有法定的批准文件给拟议中的重排效应。该公司声明中没有指定当更改生效。
直到现在,Bharti Airtel住印度电信业务,数字资产Airtel数字,国际业务包括Airtel非洲,付款银行数据中心Nxtra之下,印度塔和direct-to-home Bharti电讯传媒下(DTH)业务。
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司在附近的旅馆,Airtel支付银行非洲和基础设施业务,国际业务包括Airtel Nxtra和印度河。
然而,Bharti电讯传媒最终将被并入Airtel公司提供更好的聚合服务,Bharti Airtel说。
“公司已经政府寻求明确许可政策,考虑到运输,电信和对数,目前在两个独立的部门,监管和管理通信和i b分别”。
Bharti Airtel股票上涨2.6%,收于536卢比的疯牛病周二,优于Sensex,上涨了1.4%。Airtel的声明之后市场的时间。
四个企业
“新结构集Bharti Airtel的激动人心的未来走向,并提供集中在四个不同的企业——数字,印度,国际和基础设施,每个锋利,“Bharti Airtel董事长苏尼尔•米塔尔在一份声明中说。“我们认为这将提供敏捷,专业知识和操作严谨出色的服务客户,同时提供灵活性,解锁为我们的股东价值。这种结构在未来几年将对我们非常有用和所有利益相关者是双赢。”
米塔尔曾说等2月Airtel重组的业务带来更多关注数字资产,它甚至可以在两到三年内上市。
Bharti Airtel仍将上市,股权结构没有变化。新单位Airtel的股权将新的母公司的镜子。
目前,直接或间接,Mittal-owned实体控制约24%的Bharti Airtel,而co-promoter新加坡电信拥有31.7%。在重组之前,Bharti Airtel稀释约0.7%的股份华平从属和一些现金支付回购美国基金的20% Bharti电讯传媒公司的对数。
“全球科技公司热衷于购买到低风险数字服务业务,而不是主线连接业务更容易变幻莫测的监管环境,可能会发现这有吸引力,”分析师表示。然而,盈利可能需要一些时间,因为它只会发生一次Airtel的数字服务从目前水平收入显著增长,他说。
新结构是信实的。去年,穆克什Ambani-owned公司建立Jio平台的数字和信实电信资产。去年Jio平台收到投资超过十万的1.52卢比,13投资者出售约33%,其中包括Facebook、谷歌、英特尔和高通。Jio平台也是父母的依赖Jio Infocomm,印度电信市场的领导者。
减少负债
目前,Airtel数字每月约有2亿活跃用户。
米塔尔告诉ET,重组将需要几个月的时间和投资在数字业务将寻求扩大后从100卢比到1000卢比的收入。重组也将确保数字服务——不受电信牌照监管——没有监管的电信服务,分析师说。
“最新组织调整应该减少母亲上市实体的债务——Bharti Airtel的法定支出与调整后的总收益(AGR),如许可证费用和频谱的使用费用,一块这样的监管支出将由新的电信业务部门承担,旅馆,”一位分析师说。
换句话说,电信部门的AGR责任应该下降,因为它现在只有连接操作,没有别的,而结构早些时候Bharti Airtel举行一切,分析师说。电信公司需要支付许可证费用和频谱使用政府基于其AGR的指控。
2019年9月最高法院命令AGR的定义扩大到包括非核心项目,增加移动电话公司的法定责任。
<\/span><\/figcaption><\/figure>New Delhi: Bharti Airtel<\/a> unveiled a new corporate structure that will see it hold all digital assets, while moving the telecom businesses into a newly created unit, Airtel Ltd. The move sharpens the Sunil Mittal-led entity’s focus on digital operations and helps monetise them. The new structure will also remove telecom regulatory overhang on Airtel’s digital businesses and reduce statutory liabilities related to its mobility business.
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
<\/span><\/figcaption><\/figure>
Read also<\/h4>
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Airtel引入了新的公司结构关注数字资产
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司下Airtel Airtel支付银行国际业务包括非洲Airtel和基础设施业务在Nxtra和印度河。
读到
“新结构设想Airtel数码有限公司折叠成上市实体,Bharti Airtel,”在周三一份公司声明中表示。这将包括Wynk音乐Airtel Xstream,Airtel谢谢应用,Mitra支付平台,Airtel广告,Airtel智商,Airtel安全,Airtel云和未来所有的数码产品和服务。
“数字的野心Bharti Airtel与脊柱紧密交织在一起,连接提供了全国各地。因此,为了房子所有的电信企业在一个新创建的实体,旅馆有限公司Bharti Airtel Ltd .)的全资附属公司,”声明说。
分析人士说,自上市实体也将数字Bharti Airtel,类似于Jio平台,它将更好地吸引全球科技公司和私人股本公司的投资。
独立的单位
周三董事会批准该计划,使公司为所有法定的批准文件给拟议中的重排效应。该公司声明中没有指定当更改生效。
直到现在,Bharti Airtel住印度电信业务,数字资产Airtel数字,国际业务包括Airtel非洲,付款银行数据中心Nxtra之下,印度塔和direct-to-home Bharti电讯传媒下(DTH)业务。
在新的结构下,Bharti Airtel,住房的数字资产,成为单独的单元——电信业务的控股公司在附近的旅馆,Airtel支付银行非洲和基础设施业务,国际业务包括Airtel Nxtra和印度河。
然而,Bharti电讯传媒最终将被并入Airtel公司提供更好的聚合服务,Bharti Airtel说。
“公司已经政府寻求明确许可政策,考虑到运输,电信和对数,目前在两个独立的部门,监管和管理通信和i b分别”。
Bharti Airtel股票上涨2.6%,收于536卢比的疯牛病周二,优于Sensex,上涨了1.4%。Airtel的声明之后市场的时间。
四个企业
“新结构集Bharti Airtel的激动人心的未来走向,并提供集中在四个不同的企业——数字,印度,国际和基础设施,每个锋利,“Bharti Airtel董事长苏尼尔•米塔尔在一份声明中说。“我们认为这将提供敏捷,专业知识和操作严谨出色的服务客户,同时提供灵活性,解锁为我们的股东价值。这种结构在未来几年将对我们非常有用和所有利益相关者是双赢。”
米塔尔曾说等2月Airtel重组的业务带来更多关注数字资产,它甚至可以在两到三年内上市。
Bharti Airtel仍将上市,股权结构没有变化。新单位Airtel的股权将新的母公司的镜子。
目前,直接或间接,Mittal-owned实体控制约24%的Bharti Airtel,而co-promoter新加坡电信拥有31.7%。在重组之前,Bharti Airtel稀释约0.7%的股份华平从属和一些现金支付回购美国基金的20% Bharti电讯传媒公司的对数。
“全球科技公司热衷于购买到低风险数字服务业务,而不是主线连接业务更容易变幻莫测的监管环境,可能会发现这有吸引力,”分析师表示。然而,盈利可能需要一些时间,因为它只会发生一次Airtel的数字服务从目前水平收入显著增长,他说。
新结构是信实的。去年,穆克什Ambani-owned公司建立Jio平台的数字和信实电信资产。去年Jio平台收到投资超过十万的1.52卢比,13投资者出售约33%,其中包括Facebook、谷歌、英特尔和高通。Jio平台也是父母的依赖Jio Infocomm,印度电信市场的领导者。
减少负债
目前,Airtel数字每月约有2亿活跃用户。
米塔尔告诉ET,重组将需要几个月的时间和投资在数字业务将寻求扩大后从100卢比到1000卢比的收入。重组也将确保数字服务——不受电信牌照监管——没有监管的电信服务,分析师说。
“最新组织调整应该减少母亲上市实体的债务——Bharti Airtel的法定支出与调整后的总收益(AGR),如许可证费用和频谱的使用费用,一块这样的监管支出将由新的电信业务部门承担,旅馆,”一位分析师说。
换句话说,电信部门的AGR责任应该下降,因为它现在只有连接操作,没有别的,而结构早些时候Bharti Airtel举行一切,分析师说。电信公司需要支付许可证费用和频谱使用政府基于其AGR的指控。
2019年9月最高法院命令AGR的定义扩大到包括非核心项目,增加移动电话公司的法定责任。
“The new structure envisages Airtel Digital Ltd folding into the listed entity, Bharti Airtel,” said a company statement on Wednesday. This will encompass Wynk Music<\/a>, Airtel Xstream, Airtel Thanks<\/a> app, Mitra payments platform, Airtel Ads, Airtel IQ, Airtel Secure<\/a>, Airtel Cloud<\/a> and all future digital products and services.
“The digital ambition of Bharti Airtel is closely intertwined with the spine that connectivity provides across the country. It is, therefore, intended to house all the telecom businesses in a newly created entity, Airtel Ltd, a wholly-owned subsidiary of Bharti Airtel Ltd,” said the statement.
Analysts say that since the listed entity would also be the digital face of Bharti Airtel, similar to Jio Platforms, it will be better positioned to attract investments from global tech companies and private equity firms.
Separate units
<\/strong>
The board approved the scheme on Wednesday, enabling the company to file for all statutory approvals to give effect to the proposed rearrangement. The company statement didn’t specify when the changes would take effect.
Until now, Bharti Airtel housed the India telecom business, digital assets under Airtel Digital, international operations including Airtel Africa, the payments bank, data centre under Nxtra, Indus Towers and the direct-to-home (DTH) business under Bharti Telemedia.
Under the new structure, Bharti Airtel, housing the digital assets, becomes the holding company of separate units – telecom business under Airtel, Airtel Payments Bank<\/a>, international businesses including Airtel Africa and infrastructure business under Nxtra and Indus.
However, Bharti Telemedia will eventually be folded into Airtel Ltd to provide better converged services, Bharti Airtel said.
“The company has moved the government to seek clarity on licensing policy, given that carriage, telecom and DTH, is currently being regulated and managed under two separate ministries, of communications and I&B, respectively,” the company said.
The Bharti Airtel stock closed 2.6% higher at Rs 536 on the BSE on Tuesday, outperforming the Sensex, which rose 1.4%. Airtel’s announcement came after market hours.
Read also<\/h4><\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
<\/strong>
Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
<\/a><\/figure>Airtel dilutes 0.664% stake to Warburg Pincus' Lion Meadow<\/a><\/h5><\/div><\/a><\/figure>Airtel launches 5G-ready IoT platform to drive enterprise business<\/a><\/h5><\/div><\/div><\/div>
Four businesses
<\/strong>
“The new structure sets the exciting future course for Bharti Airtel and provides focus on the four distinct businesses – digital, India, international and infrastructure, each in a razor-sharp way,” said Bharti Airtel chairman Sunil Mittal in the statement. “We believe this will provide agility, expertise and operational rigour to serve our customers brilliantly, while providing flexibility to unlock value for our shareholders. This structure will serve us well over the coming years and is a win-win for all stakeholders.”
Mittal had spoken to ET in February about the restructuring of Airtel’s business to bring more focus on to digital assets, which could even be listed in two to three years.
Bharti Airtel will remain listed, with no change in its shareholding structure. New unit Airtel’s shareholding will mirror that of its new parent.
Currently, directly and indirectly, Mittal-owned entities control about 24% of Bharti Airtel, while co-promoter SingTel owns 31.7%. In the lead-up to this restructuring, Bharti Airtel diluted roughly 0.7% stake to a Warburg Pincus affiliate and paid some cash to buy back the US fund’s 20% in Bharti Telemedia, the DTH company.
“Global tech companies keen to buy into the less-risky digital services business, instead of the mainline connectivity business that is more prone to the vagaries of the regulatory environment, might find this attractive,” said an analyst. Monetisation may, however, take some time as it can happen only once Airtel’s digital service revenues grow significantly from current levels, he said.
The new structure is along the lines of that at Reliance. Last year, the Mukesh Ambani-owned company established Jio Platforms to house the digital and telecom assets of Reliance Industries. Jio Platforms last year received more than Rs 1.52 lakh crore in investments, selling about 33% to 13 investors, including Facebook, Google, Intel and Qualcomm. Jio Platforms is also the parent of Reliance Jio Infocomm, India’s telecom market leader.
Reducing liabilities
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Currently, Airtel Digital has around 200 million monthly active users.
Mittal had told ET that the reorganisation would take several months and investments in the digital business will be sought after it is scaled up to around Rs 1,000 crore from Rs 100 crore revenue. The reorganisation will also ensure that digital services – which aren’t regulated by telecom licences — don’t have the regulatory overhang of the telecom service, say analysts.
“The latest organisational rejig should reduce the liabilities of the listed mother entity — Bharti Airtel’s statutory payouts linked to adjusted gross revenue (AGR), such as licence fees and spectrum usage charge — as a chunk of such regulatory payouts would be borne by the new telecom business arm, Airtel Ltd,” an analyst said.
In other words, the telecom unit’s AGR liability should drop as it now has only connectivity operations and nothing else, compared with the earlier structure when Bharti Airtel held everything, the analyst added. Telcos need to pay licence fees and spectrum usage charges to the government based on its AGR.
A September 2019 Supreme Court order had widened the definition of AGR to include non-core items, increasing the statutory liabilities of mobile phone companies.
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