Corporate Jun 12, 2013
Mumbai: Bharti Infratel today said the Delhi High Court has sanctioned the merger of Bharti Infratel Ventures Ltd, its wholly owned subsidiary with Indus Towers, effective yesterday.
"Hon ble High Court of Delhi vide its order dated April 18, 2013 has sanctioned the scheme of arrangement for merger of Bharti Infratel Ventures Limited, wholly owned subsidiary company of Bharti Infratel Limited with Indus Towers Limited," Bharti Infratel said in a filing to the BSE.
"The said merger has become effective i.e. June 11, 2013," it added.
Indus Towers, which has around 1.10 lakh towers, is a joint venture between Bharti Airtel, Vodafone and Idea Cellular.
Vodafone and Bharti Airtel own 42 per cent each, while Idea Celluar has 16 per cent stake in the company.