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It will now approach National Company Law Tribunal for its approval, the company said.
\"We are pleased to inform you that \"no adverse observation\" letter has been received from the Stock Exchange for the proposed merger of Bharti Infratel<\/a> Limited and Indus Towers Limited. The Company will file the first motion petition before the National Company Law Tribunal in due course,\" Bharti Infratel<\/a> said in filing at both BSE and NSE.
In April this year, Bharti Airtel<\/a>, Idea Cellular and Vodafone Group had announced an agreement for the merger of Indus Towers and Bharti Infratel to create the largest mobile tower operator in the world outside China. It will have over 163,000 towers across 22 telecom service areas in India.
The combined company will own 100 per cent of Indus Towers -- jointly owned by Bharti Infratel (42 per cent holding), Vodafone (42 pc), Idea Group (11.15 pc) and Providence (4.85 pc).
Post the deal, Bharti Airtel and Vodafone will jointly control the combined company, and the transaction is expected to close before the end of 2018-19, subject to statutory approvals.
The deal gives Idea Group an option to sell its 11.5 per cent stake in Indus Towers for cash or in lieu of receiving new shares.
Providence too has the option to receive cash or shares for 3.35 per cent of its 4.85 per cent shareholding in Indus Towers with balance exchanged for shares.
As per the deal structure, Vodafone will be issued 783.1 million new shares in the merged entity in exchange for its 42 per cent stake in Indus Towers, and this could take its holding to 29.4 per cent in new company depending on the options finally taken by Idea and Providence.
Similarly, Airtel's stake in new combined tower behemoth may be diluted to 37.2 per cent in the combined entity from 53.5 per cent it currently holds in Bharti Infratel. The transaction values Indus Towers at an enterprise value of Rs 71,500 crore.
Bharti Infratel stock was trading 0.44 per cent up at Rs 287.6 on BSE in the afternoon.
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现在方法国家公司法法庭的批准,该公司表示。
“我们很高兴地通知您,没有不良观察”的信已经收到从证券交易所的合并鼓吹有限公司和印度塔有限公司。该公司将文件第一运动请愿适时国家公司法法庭之前,“鼓吹在申请疯牛病和分析了无说。
今年4月,Bharti附近的旅馆,细胞和沃达丰集团宣布了一项协议,合并印度塔塔和鼓吹创造最大的移动运营商在中国之外的世界。它将有超过163000塔在22日在印度电信服务领域。
合并后的公司将拥有100%的印度塔——共同拥有鼓吹(42%股份)、沃达丰(42 pc)、组(11.15)和普罗维登斯(4.85)。
帖子,Bharti Airtel和沃达丰(Vodafone)合并后的公司将共同控制,和交易预计将在2018年底之前完成- - - 19日,法定的批准。
这笔交易让想法组选择出售其11.5%的股份印度河塔为现金或代替接收新股票。
普罗维登斯也可以选择接受现金或股票3.35%的4.85%股权在印度河塔平衡交换的股票。
按照交易结构,沃达丰在合并后的实体将发行7.831亿股新股,以换取其印度塔42%的股份,这可能需要在新公司根据其控股29.4%的选择最后采取的想法和普罗维登斯。
同样,Airtel在新组合塔巨头可能被稀释的股份从53.5%降至37.2%,合并后的实体在鼓吹他目前持有。交易值印度河塔的企业价值71500卢比。
鼓吹股票交易0.44%在Rs 287.6下午疯牛病。
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