New Delhi, September 1
Bharti Infratel on Tuesday stated its Board has determined to proceed with the scheme for merger with Indus Towers, and that the money consideration chosen by Vodafone Idea for its 11.15% stake in Indus Towers is anticipated to be about Rs 4,000 crore.
The firm stated its Board, in a gathering held on August 31, took word of the standing of scheme of association between Indus Towers and Bharti Infratel and the associated agreements.
“After deliberations, the Board has decided to authorise the chairman to proceed with the scheme and to comply with other procedural requirements for completion of the merger including approaching NCLT (National Company Law Tribunal) to make the scheme effective subject to certain procedural condition precedents,” it stated in a regulatory submitting.
Bharti Airtel will maintain 36.7% stake within the merged entity, Vodafone UK (28.2%), Providence Equity Partners (3.2%) with public holding (31.6%), in response to a supply. — PTI
- Bharti Airtel will maintain 36.7% stake within the merged entity, Vodafone UK (28.2%), Providence Equity Partners (3.2%) with public holding (31.6%)
- Sources stated that the sooner merger ratio (1,565 shares of Bharti Infratel for each Indus share) has modified to 1,519 shares of Bharti Infratel for every Indus share