Unit of Singtel associate Bharti Airtel gets board approval for Indus Towers merger

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THE board of Bharti Infratel has authorised the company's chairman to proceed with the scheme of arrangement between Indus Towers and Bharti Infratel and to comply with other procedural requirements for completing the merger. Read more at The Business Times.

Current Infratel shareholders will hold the bulk of the shareholding at 68.6 per cent, total for Indus share swap at 31.4 per cent, Vodafone at 28.2 per cent, and PEP at 3.2 per cent.

To secure the payment obligation of Vodafone Idea under the master service agreements, Vodafone Idea and Vodafone Group have entered into certain security arrangements with Bharti Infratel for the benefit of the merged entity.

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