Bharti Infratel, Indus have the right to end proposed merger: Akhil Gupta

Bharti Infratel, currently owned 53.5% by Bharti Airtel, owns and operates over 40,000 towers

Bharti Infratel on Friday said the company and Indus Towers, which had extended their merger deadline to June 24, were well within their rights to terminate the contract if the need arises.
 

In a post-earnings conference call, Akhil Gupta, chairman, Bharti Infratel, said: “The original date for the merger with Indus Towers was October 2019, which got pushed back several times and the new date is June 24, 2020. Each party has the right to terminate the proposed merger.”
 

Capital markets services firm CLSA said the review of Infratel’s merger terms with Indus would also be a positive.