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Bharti Infratel and Indus Towers Merger Date Extended Again

Mna News - Published on Thu, 26 Dec 2019

Image Source: Bharti Infratel Indus Towers
Bharti Infratel announced that it has extended the deadline for merger with mobile tower company Indus Towers by two more months to February 24 as it has not received the necessary government approvals so far. This is the second time the company has extended the deadline for the same reason. It informed BSE “The board of directors has further extended the long stop date till February 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme. There can be no assurance that the merger can be completed within the extended time-frame and that the completion of merger is contingent upon receipt of requisite regulatory approvals and fulfilment of other conditions precedent.”

The merger of Indus Towers and Bharti Infratel announced in April last year aimed at creating the largest mobile tower operator in the world outside China with over 163,000 towers across 22 telecom service areas.

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Posted By : TelecomGuru on Thu, 26 Dec 2019
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