Bharti Infratel on Thursday pushed back the board meeting to take a final decision on the scheme of arrangement between Indus Towers and Bharti Infratel. The board meeting which was scheduled to be held today has now been put back for a later date.
Bharti Infratel in a BSE filing noted that the board was scheduled to meet today to take a final decision on the scheme of arrangement between Indus Towers and Bharti Infratel but the same has been put back as certain inputs that would have been required by the board for it to deliberate and take a final decision has been delayed given the current environment.
The board meeting has now been rescheduled for a later date but definitely on or before the current long stop date of 24th June 2020.
To recall, Bharti Infratel earlier pushed the merger for the fourth time to June 24th. The consummation of the merger is subject to the mutual agreement of the parties on the pre-closing adjustments, and other conditions precedent for closing.