Mumbai, Feb 8 (IANS) Bharti Airtel on Wednesday announced the restructuring of its shareholding pattern for simplification and increased synergies between its subsidiaries.
"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 BSE filing.
The company will continue to hold 100 per cent stakes in Ni2i, it said.
The decision was taken at the Board of Directors meeting held on Tuesday.
"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 help entirely by BISPL, another wholly-owned subsidiary of the company," the statement said.
"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.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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