Bharti Airtel - Restructuring Aimed At Digital Business, AGR-Tax Efficiency: ICICI Securities
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ICICI Securities Report
Bharti Airtel Ltd. has announced a new corporate structure wherein digital assets, and infrastructure assets (fiber and tower [via Nettle Infrastructure]) will be pushed up into the parent entity, and telecom business will be pushed down to the wholly-owned subsidiary.
The new structure is aimed at -
- bringing all digital assets under one entity and focusing on growing it fast; and
- by pushing telecom business at bottom, it will make the entire organisation adjusted gross revenue-tax efficient.
Clearly, the new structure indicates no immediate monetisation plans of digital assets, and rightfully so, as it is yet to exploit the potential from the business.
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