Vodafone Idea shares rise nearly 4%
Bharti Infratel shares too rallied up nearly 14 per cent on the bourses.
Bharti Infratel shares too rallied up nearly 14 per cent on the bourses.
Post the completion of the transaction, Vodafone Idea Ltd (VIL) has received cash consideration of Rs 3,760.1 crore for its 11.15 per cent shareholding in Indus Towers.
On September 1, Vodafone Group had announced that it had agreed to proceed with the proposed merger.
The court is likely to consider the issue of allowing the telcos to pay their AGR dues worth Rs 1.43 lakh crore over 20 years.
In April 2018, Bharti Airtel, Idea Cellular, and Vodafone Group had announced an agreement for the merger of Indus Towers and Bharti Infratel to create the largest mobile tower operator in the world outside China.
The merger would also require approval from the Department of Telecommunications.
