THE deadline for a scheme to merge Indian telco joint venture Indus Towers and Bharti Infratel, a subsidiary of Bharti Airtel, has been extended after the scheme received foreign direct investment approval from the Indian government, Bharti Infratel said on Monday.
The extension is subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme. The proposed merger will create one of the largest telecom tower companies in the world, with more than 163,000 towers.
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