DoT clears Bharti Infratel-Indus merger: Sources

KOLKATA: The Department of Telecommunications (DoT) is learnt to have cleared Bharti Infatel’s mega merger deal with Indus, sources said, paving the way for creating one of the world’s largest telecom tower companies with over 1,63,000 towers, and also offering a much needed avenue for beleaguered Vodafone Idea to raise funds to clear a portion of its massive AGR dues to the government.

The companies are believed to have received the critical foreign direct investment (FDI) nod for the merger deal from DoT on Friday evening, a person with direct knowledge told ET. The deal was stuck for several months as DoT is learnt to have held in abeyance the FDI approval due to a Rs 22,000 crore withholding tax dispute between UK’s Vodafone Group and India.