Bharti Airtel and Airtel Broadband set to merge
Bharti Airtel, one of the major telecommunications firms in India, had announced the board approval for the merger of Airtel Broadband Services and itself. This merger would still be subject to regulatory approval including high court clearances according to the latest filed documents with the BSE.
According to the statement, "... the Board of Directors of the company has approved the scheme of amalgamation of Airtel Broadband Services Private Limited (formerly known as Wireless Business Services Private Limited), a wholly owned subdiary, with the company."
Bharti Airtel had just recently acquired 100% stake in Wireless Business Services, a company established by chipmaker Qualcomm. After said acquisition, the company was renamed into Airtel Broadband Services.
Wireless Business Services owns spectrum that can be utilized for high speed 4G services for areas such as Haryana, Kerala, Mumbai and New Delhi. Airtel for its part owns similar spectrum in Karnataka, Kolkata, Maharashtra and Punjab. It had already launched 4G services in Bangalore, Chandigarh, Kolkata, Mohali, Panchkula and Pune.