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INDUSTOWER - Indus Towers News Story

₹244.35 -7.3  -2.9%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £6.38bn
Enterprise Value £7.85bn
Revenue £1.35bn
Position in Universe 67th / 3111

BRIEF-Bharti Infratel Announces Merger With Indus Towers

Wed 25th April, 2018 3:47am
April 25 (Reuters) - Bharti Infratel Ltd  BHRI.NS :
    * ANNOUNCES MERGER OF BHARTI INFRATEL AND INDUS TOWERS
    * TRANSACTION VALUES INDUS TOWERS AT AN ENTERPRISE VALUE OF
715
BILLION RUPEES
    * COMBINED COMPANY, WHICH WILL FULLY OWN BUSINESSES OF CO
AND
INDUS TOWERS, WILL CHANGE ITS NAME TO INDUS TOWERS LIMITED
    * BHARTI AIRTEL AND VODAFONE WILL JOINTLY CONTROL THE
COMBINED
COMPANY
    * BHARTI AIRTEL AND VODAFONE WILL HAVE EQUAL RIGHTS IN THE
COMBINED COMPANY
    * BHARTI AIRTEL AND VODAFONE HAVE AGREED A CAPITAL STRUCTURE
AND
DIVIDEND POLICY WHICH IS EXPECTED TO BE IMPLEMENTED POST
COMPLETION
    * BOARD OF COMBINED CO WILL COMPRISE OF 11 DIRECTORS, OF
WHOM
THREE WILL BE APPOINTED BY EACH OF BHARTI AIRTEL AND VODAFONE
    * PROVIDENCE HAS OPTION TO ELECT TO GET CASH/SHARES FOR 3.35
PERCENT OF 4.85 PERCENT STAKE IN INDUS TOWERS WITH BALANCE
EXCHANGED FOR SHARES
    * PRO FORMA FOR THE TRANSACTION, THE COMBINED CO’S EQUITY
VALUE
WOULD BE 965 BLN RUPEES

Source text: http://bit.ly/2JrCYNQ
Further company coverage:  BHRI.NS 

 ((Reuters.Briefs@thomsonreuters.com;))
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