Bharti Infratel extends deadline for Indus Towers merger to February 24, 2020

Telecom infrastructure provider Bharti Infratel, which is yet to get approvals from the Government for its merger with Indus Towers, has once again extended the deadline for closing the deal to February 24, 2020. The deal, which would have created the world’s second largest telecom tower firm, was signed on April 23, 2018.

“We wish to inform you that the requisite Government approvals have not been received till date, and consequently, conditions precedent could not be completed within the extended timeline, that is December 24, 2019,” Bharti Infratel said in a regulatory filing.

The company’s board has further extended the long stop date till February 24, 2020, subject to agreement on closing adjustments and other conditions, it said.