INSUBCONTINENT EXCLUSIVE:
New Delhi: Bharti Infratel is said to be hesitant about going ahead with a plan involving a merger with Indus Towers and a buyout of 7 per
cent equity stake from Vodafone Idea in the resultant entity
While almost all clearances have been obtained, the company has sought to extend the process by another two months.
People with knowledge of
the matter said the reason is uncertainty over the survival of cash-strapped Vodafone Idea, which is facing adjusted gross revenue (AGR)
dues of around Rs 57,000 crore, and the changed industry scenario.
Majority owned by Bharti Airtel, Infratel is awaiting the outcome of the
next hearing in the Supreme Court on the AGR issue on March 17, that will take stock of payments by telecom operators including Vodafone
The latter is pressing for the deal to be implemented at the earliest, so that it can monetise its 7 per cent in the merged entity for Rs
document to National Company Law Tribunal (NCLT) Chandigarh