New Delhi: The board of Bharti Infratel has again extended the deadline for completion of the company’s merger with Indus Towers in order to comply with certain conditions, despite the government’s nod for FDI enhancement on Friday.
“Since the other actions/conditions precedent to be fulfilled for the scheme (of merger) to become effective cannot be completed by the extended long stop date i.e. February 24, 2020, the board had 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,” Bharti Infratel said in an exchange filing on Monday.
To be sure, this is the third deadline extension for the merger.
“The final decision to implement the scheme will be taken by the board keeping in mind the best interest of the compan