New Delhi: The mega merger of Bharti Infratel and Indus Towers — which will create a telecom infrastructure juggernaut with over 163,000 towers — is expected to be completed by August this year, according to a top company official.
The combination, which was announced in April last year, is slated to create the largest mobile tower operator in the world outside China, with over 163,000 towers operating across all 22 telecom service areas in India.
"...the merger process with Indus Towers...as on date we have received all the permissions, including the final National Company Law Tribunal (NCLT) order. We now await the approval for enhancement of foreign direct investment limit from Department of Telecom. We expect to complete the merger within August 2019," Akhil Gupta, chairman of Bharti Infratel, said.