Bharti Airtel?s board of directors has approved the merger of its wholly owned subsidiary Airtel Broadband Services with itself, say news reports.
In a filing with the Bombay Stock Exchange, the operator stated that the merger will be subject to legal and regulatory clearances.
Recently, Bharti Airtel acquired 100 per cent stake in Wireless Business Services (WBSPL), a company founded by the US-based chipmaker Qualcomm. Following the acquisition, the operator renamed the company as Airtel Broadband Services.
Bharti Airtel had acquired a 49 per cent stake in WBSPL in May 2012 for $165 million followed by another 2 per cent stake in July 2013.
Following the acquisition, Bharti Airtel holds 4G licences in the Delhi, Mumbai, Haryana and Kerala circles. The company already had 4G spectrum in the Punjab, Maharashtra, Kolkata and Karnataka circles. Currently, Bharti Airtel offers 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.
