NCLT nod for Indus Towers-Bharti Infratel merger

Kolkata: The Chandigarh bench of the National Company Law Tribunal has approved the merger of Indus Towers with Bharti Infratel, which will create one of the largest telecom tower companies globally.

Bharti Airtel and the UK’s Vodafone will jointly control the pan-India company, which will operate over 163,000 telecom towers across 22 service areas with an estimated valuation of $12-13 billion.

“The NCLT, Chandigarh Bench, vide its order dated May 31, 2019, has sanctioned the scheme of amalgamation and arrangement between Indus Towers (transferor company) and Bharti Infratel (transferee company) and their respective shareholders