Telecom operator Idea Cellular said shareholders and creditors have approved the proposal to demerge the company’s passive infrastructure — towers and base stations — to its subsidiary Idea Cellular Towers Infrastructure.
Shareholders have approved the scheme of arrangement on demerger of passive infrastructure of the company to its wholly-owned subsidiary Idea Cellular Towers Infrastructure Ltd, with requisite majority, Idea Cellular said in a filing to the Bombay Stock Exchange.
Shares of Idea Cellular were trading at Rs 70.10 on the BSE, up 1.30 per cent from previous close.