HIGHLIGHTS



  • The merger takes shape one year after its announcement.
  • It was announced in October 2017.
  • Bharti Airtel's share price on BSE closed at Rs 310.45 on Monday.


The Delhi court of the National Company Law Tribunal (NCLT) approved the financially stressed merger of Tata Teleservices with Bharti Airtel.

With the approval, the merger takes a definitive form over a year after its announcement by the respective companies in October 2017.

"The NCLT sanctioned the Composite Arrangement Scheme between Tata Teleservices Limited, Bharti Airtel and Bharti Hexacom and their respective shareholders and creditors under Articles 230 to 232 of the Companies Act 2013," Bharti Airtel said in a statement. document filed with BSE. . Bharti Hexacom is a subsidiary of the big telecommunications group, "said Bharti Airtel.

The order of the court stated: "In view of the foregoing, in light of the approval given by the members and creditors of the Applicant Companies to the proposed scheme and the affidavits filed by the Northern Regional Director of the Department of Corporate Affairs. , the Department of Telecommunications and the Department of Telecommunications, there appears to be no impediment to sanctioning this plan. "

Bharti Airtel's share price on BSE closed at Rs. 310.45 on Monday, a decrease of Rs. 0.50 or 0.16% from the previous closing.

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