Bharti Infratel merger extension

Telecom infra company Bharti Infratel on Wednesday decided to push back the deadline for completion of its merger with Indus Towers by over two months till August 31, according to a regulatory filing.

The move comes at a time the Supreme Court is hearing the crucial AGR matter, whose outcome will define the contours of the telecom market, and future viability, particularly of Vodafone Idea.

Since Vodafone Idea is a customer for both Bharti Infratel and Indus, the final decision in the Adjusted Gross Revenue (AGR) case will have a bearing on the planned mega-tower deal.

Bharti Infratel told the BSE its board met on Wednesday and took note of the status of the merger plan between Indus and the company.