GTL Group shares - GTL and GTL Infrastructure— have rallied on the bourses after the two companies said that their board will meet on December 29 to consider corporate debt restructuring.
“A meeting of the board of directors of the company will be held on December 29, 2011, to consider the letter of approval received from corporate debt restructuring cell in respect of restructuring the company’s debt and other related matters," GTL and GTL Infrastructure said in a filing to the Bombay Stock Exchange (BSE).
The board of GTL Infrastructure will also consider withdrawal of scheme of arrangement between the company and Chennai Network Infrastructure and mull a fresh scheme of amalgamation.
GTL Infrastructure has rallied 7% to Rs 9.55 and GTL has gained 5% at Rs 37.80 on the BSE.