New Delhi: The merger of Bharti Infratel and Indus Towers has been hit by a delay due to to delay in securing government approvals and a new committee will now explore “all possible options". The companies had aimed to complete the merger by August, Bharti Infratel Chairman Akhil Gupta had told analysts at a post-earnings conference call in July. The two tower companies had in April last year agreed to merge their businesses to create the world’s largest tower company outside China. The merged company will be listed on the stock exchanges as Bharti Infratel is a publicly traded company. Bimal Dayal, chief executive officer, Indus Towers, and Hemant Ruia, chief financial officer, Indus Towers, have been appointed CEO and CFO, respectively, of the merged entity of Indus Towers and Bharti Infratel.

Source: Mint October 21, 2019 16:52 UTC