Bharti Infratel defers board meeting on Indus Tower merger; stock tanks 10%

The Board meeting has been rescheduled for a later date but will be held on or before the current long stop date of 24th June 2020, the company said.

Shares of Bharti Infratel slipped 10 per cent to Rs 210 on the BSE on Thursday after the board deferred meeting pertaining to decision on the merger with Indus Towers as certain details it sought were delayed.

“Certain inputs that would have been required by the Board for it to deliberate and take a final decision have been delayed given the current environment. In view of the same, the said Board meeting has been rescheduled for a later date but definitely on or before the current long stop date of 24th June 2020," Bharti Infratel said in an exchange filing.