Bharti Infratel zooms 5% as Board okays Indus Tower merger; Voda Idea up 8%

Vodafone Idea has decided to cash out by selling its 11.15 percent stake in Indus. The move comes ahead of the Supreme Court's verdict in the AGR case today

Shares of Bharti Infratel leaped 5 per cent to Rs 208 on the BSE on Tuesday after the company's board approved its merger with Indus Tower. 

"The Board of Directors in its meeting held on August 31, 2020 took note of the status of Scheme of Arrangement between Indus Towers and Bharti Infratel Limited and the related agreements. After deliberations, the Board has decided to authorise the chairman to proceed with the Scheme and to comply with other procedural requirements for completion of the merger including approaching NCLT to make the Scheme effective subject to certain procedural condition precedents," it said