Bharti Infratel extends Indus merger deadline to April 24

The board of Bharti InfratelNSE 0.12 % Monday has extended by another two months – to April 24 – the deadline for the closure of its merger with Indus Towers, and said that the implementation of the deal will depend on impact of the current AGR crisis.

“Since the other actions/conditions precedent to be fulfilled for the Scheme to become effective cannot be completed by the extended Long Stop Date i.e. February 24, 2020, the Board of Directors have further extended the long stop date till April 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,” Infratel said in a statement to the exchanges Monday.