Bharti Infratel extends deadline for merger with Indus Towers till Aug 31
NEW DELHI: Bharti InfratelNSE -3.45 % has extended the long stop date for the closure of its merger with Indus Towers for the fifth time, to August 31, saying some conditions still need to be met.
“Since the conditions precedent to be fulfilled for the Scheme to become effective cannot be completed by the extended Long Stop Date i.e. June 24, 2020, the Board of Directors have further extended the Long Stop Date till August 31,2020, 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 an exchange filing after market hours on Wednesday.