Stock Exchanges Gave Clearance to Bharti Infratel for Acquiring Indus Towers

Mobile tower arm of telecom major Bharti Airtel, Infratel had received clearance from stock exchanges for its merger with Indus Towers. It will now approach National Company Law Tribunal for its approval, the company said. “We are pleased to inform you that “no adverse observation” letter has been received from the Stock Exchange for the proposed merger of Bharti Infratel Limited and Indus Towers Limited.

The company will file the first motion petition before the National Company Law Tribunal in due course,” Bharti Infratel said in filing at both BSE and NSE. In April this year, Bharti Airtel, Idea Cellular and Vodafone Group had announced an agreement for the merger of Indus Towers and Bharti Infratel to create the largest mobile tower operator in the world outside China.