The proposed merger between Bharti Infratel, India’s leading telecom towers infrastructure provider, and the country’s largest mobile tower installation company Indus Towers, has been further delayed yet again to the 24th of February 2020.
This was due to the absence of required approvals from the Department of Telecommunications (DoT).
Should the deal be successful, the amalgamation of these two towercos would mean the birth of a new $14.6 billion telecom tower juggernaut.
Although the merger was initially planned for completion in October 2019, the deal has since been extended twice; first to the 24th of December 2019 and now in February while awaiting regulatory clearance from the DoT.
Each party reserves the right to terminate the scheme if they choose to do so.
Conclusion of this merger is predicted to boost Bharti Airtel and Vodafone Group Plc, both of whom are promoters of Indus Towers, in order to sell their stake and decrease their debt to be able to invest further in India’s wireless operations.