Bharti Infratel board to meet on June 11 to decide merger with Indus Tower

The company said that the board will hold a meeting on June 11, to take a final decision on the scheme of arrangement between the company and Indus Towers.

Jun 04, 2020 03:06 IST India Infoline News Service

Bharti Infratel
Bharti Infratel Board of Directors took note of the status of Scheme of arrangement between Indus Towers and Bharti Infratel.

The stock is currently trading at Rs217.25, down by Rs1.75 or 0.8% from its previous closing of Rs219 on the BSE.

The Board has decided to meet on June 11, 2020, to take the final decision on the matter, keeping in mind the best interest of the Company and its stakeholders.

It may be noted that the Board of Directors in its meeting held on April 23, 2020, had extended the long stop date for the Scheme till June 24, 2020, with each party retaining the right to terminate and withdraw the scheme at any point.

Accordingly, there can be no certainty whether the merger will get completed or not.

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