Bharti Infratel extends deadline for merger with Indus Towers till August 31

By: |
Published: June 24, 2020 5:22 PM

The decision was taken by the board of the company, which met on Wednesday and took note of the status of the scheme of arrangement between Indus and Bharti Infratel.

The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the company and its stakeholders, Bharti Infratel added.The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the company and its stakeholders, Bharti Infratel added.

Telecom infrastructure company Bharti Infratel on Wednesday decided to extend the deadline for merger with Indus Towers by over two months till August 31, according to a regulatory filing.

The decision was taken by the board of the company, which met on Wednesday and took note of the status of the scheme of arrangement between Indus and Bharti Infratel.

“Since the conditions precedent to be fulfilled for the scheme to become effective cannot be completed by the extended Long Stop Date that is June 24, 2020, the board of directors has further extended the Long Stop Date till August 31, 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,” the company said in a BSE filing.

The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the company and its stakeholders, Bharti Infratel added.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Boycott China effect? DPIIT meeting with e-commerce firms on mentioning ‘country of origin’ on each product likely on July 8
2Record low tariff bidding for new solar projects, due to chance coming together of many positives
3TikTok predicts over USD 6 billion loss from India’s ban: Report