Comments
Bharti Airtel-owned telecom tower company Bharti Infratel Limited said on Monday it has got an approval from the Competition Commission of India to merge with Indus Towers Limited.
Indus Towers is 42 per cent owned by Bharti Infratel and Vodafone each, while Idea Cellular Limited holds 11.15 per cent. The rest is held by private equity firm Providence.
It is the largest tower company in India with around 27 per cent market share.
“Pursuant to Regulation 30 of Sebi Regulations, we are pleased to inform you that the approval of the Competition Commission of India has been received for the proposed merger of Bharti Infratel Limited and Indus Towers Limited,” the company said in a stock filing.
As per the deal, Bharti Infratel will offer 1,565 shares for every one share of Indus Towers.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.