Bharti Infratel board to meet 11 June for final call on Indus merger

NEW DELHI: The board of Bharti Infratel Ltd has decided to meet on 11 June to take a final decision on the merger of its joint venture firm Indus Towers Ltd, a deal that had been postponed four times in the past. The company said there is no certainty on whether the much-awaited deal would be completed.

“The Board has decided to meet on 11th June, 2020 to take the final decision on the matter, keeping in mind the best interest of the company and its stakeholders… Accordingly, there can be no certainty whether the merger will get completed or not,” Bharti Infratel said in a filing with exchanges.

Completion of the merger would be crucial for Vodafone Idea as well as Bharti Airtel, which plan to divest some of their stake for much-needed cash for the extremely competitive telecom services business.