Bharti Airtel, India’s premier communications solutions provider has withdrawn the scheme of arrangement for the new corporate structure announced in April last year.

The company said in a BSE filing, “The board is of the belief that the existing corporate structure of the company is optimal for the leveraging emerging opportunities and unlocking value while continuing to scale up the Airtel’s digital businesses.”

The company also said that the telecom sector reforms package announced by the government has boosted the outlook and investor confidence for the industry while simplifying the licensing framework.

“With a strong balance sheet and 5G ready network, Bharti Airtel is well-positioned to invest aggressively in the emerging growth opportunities offered by India’s digital economy,” it said.

Airtel’s businesses will continue to be categorized under four verticals, India, Digital, International, and Infrastructure

The company will be merging its wholly-owned subsidiary Telesonic Networks Limited, resulting in the consolidation of its fiber assets into Airtel. Nettle Infrastructure Investments Limited will also be merged. Bharti further notified that it will pursue its plan to eventually fold the DTH business (Bharti Telemedia) into Airtel to move towards the NDCP vision of converged services to customers.