NCLT nod for merger of Airtel, Bharti Digital Networks
New Delhi: Bharti Airtel today said the National Company Law Tribunal has cleared a scheme of arrangement between the company and Bharti Digital Networks, previously known as Tikona Digital Networks.
The scheme is now awaiting the approval of the Telecom Department.
"...National Company Law Tribunal, New Delhi...vide its order dated July 04, 2018, has subject to the approval of DoT (Department of Telecom), sanctioned the scheme of arrangement between Bharti Airtel Limited and Bharti Digital Networks Private Limited (formerly known as Tikona Digital Networks Private Limited) and their respective shareholders and creditors...," Airtel said in a regulatory filing.
Airtel, in March 2017, announced its decision to acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across five circles, for about Rs 1,600 crore.