Amazon Quiz: The telecom infrastructure company ‘Bharti Infratel’ recently merged with which company?
Indus Towers
Punj Lloyd Group
Larsen & Toubro
Lanco Infratech
Answer: Indus Towers
The merger of Bharti Infratel and Indus Towers in order to construct a tower company was completed in November 2020, with Vodafone Idea Ltd. (VIL) receiving about Rs. 3,760 crore for its holding of 11.15%, according to a report by The Hindu.
“…the Board has allotted 757,821,804 equity shares of Rs. 10 each to the Vodafone group and 87,506,900 equity shares of Rs. 10 each to PS Asia Holding Investments (Mauritius) Limited (Providence) aggregating to 28.12% and 3.25% respectively in the post-issue share capital of the company,” Bharti Infratel stated in a regulatory filing on November 19, 2020.
“…subsequent to filing of the NCLT orders by the respective companies with the Registrar of Companies today…November 19, 2020, the Scheme has become effective on even date and the merger of lndus and Infratel has been completed,” the filing added.
The board appointed Bimal Dayal as the CEO and Managing Director of the merger.
Before merging with Indus, Bharti Infratel had a stake of 42% in Indus Towers, which was a collaborative project between British telecom firm Vodafone and Vodafone Idea. The two had 42% and 11.15% of stakes, respectively.
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