With Voda-Idea’s future, Bharti Infra-Indus Towers deal hangs in balance

Bharti Infratel Ltd has again deferred its decision on the proposed merger with Indus Towers Ltd and has extended the long stop gap date of the proposed merger to 31 August.

The company had received regulatory approvals for the deal earlier this year, but had extended the long stop date to April, then to June, and now to August. The extensions come alongside the Supreme Court’s ongoing deliberations on the adjusted gross revenue (AGR) dues.

Last week, the Supreme Court asked private telecom operators, Bharti Airtel Ltd and Vodafone Idea Ltd, the main tenants of Infratel and Indus Towers, to pay a “reasonable” upfront payment of AGR dues to consider a 20-year repayment period for the balance amount.