On Wednesday, Bharti Infratel board will meet for finalizing the long pending merger with Indus Towers. The decision shall be considering some renegotiations in merger valuation terms basis the changed outlook post the Covid 19 crisis. Earlier on June 11, 2020, the company postponed its scheduled meet to a later date.
"The Board of the Company was scheduled to meet today to take a final decision on the Scheme of arrangement between Indus Towers and Bharti Infratel. Certain inputs that would have been required by the Board for it to deliberate and take a final decision have been delayed given the current environment. In view of the same, the said Board meeting has been rescheduled for a later date but definitely on or before the current long stop date of 24th June 2020," said the company in its statement.
The deal was signed in the year 2018 and is likely to come through now. And upon completion, the deal would result in the establishment of world's biggest telecom tower companies.
Stock of Bharti Infratel on June 23 closed with gains of 4% at 23230.