Bharti Airtel scheduled a board meeting for this week to discuss future strategic plans and outline a reorganisation of shares of its subsidiaries.
In a stock exchange filing, the operator said its board would meet on 17 February. The reorganisation of its shareholding framework of subsidiary companies could involve consolidation or acquisition of shares, which would be financed by issuing equity shares or from cash.
It did not provide details on which subsidiaries it could be targeting.
Bharti Airtel’s board approved an INR75 billion ($1 billion) fundraising move earlier this month, involving issuing securities including bonds, as it builds a war chest for spectrum auctions due to begin in March [1], as well as the long-awaited rollout of 5G service.
The operator reported a return [2] to profitability in its most recent quarter, with net income of INR8.5 billion driven by mobile revenue growth and uptake of data plans.
[1] https://www.mobileworldlive.com/featured-content/top-three/india-to-issue-4g-spectrum-auction-invitations
[2] https://www.mobileworldlive.com/asia/asia-news/airtel-boss-credits-consistency-for-return-to-profit
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