Bharti Infratel, Indus Towers extend deadline for merger to February

Bharti Infratel on Tuesday said it has extended the deadline for merger with mobile tower company Indus Towers by two more months to February 24, as it has not received the necessary government approvals so far.

“The Board of Directors has further extended the long stop date till February 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme,” Bharti Infratel said in a BSE filing.

It also cautioned that “there can be no assurance that the merger can be completed within the extended time-frame” and added that the completion of merger is contingent upon receipt of requisite regulatory approvals and fulfilment of other conditions precedent.