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DoT Clears Bharti Infratel-Indus Tower Merger Deal

DoT Clears Bharti Infratel-Indus Tower Merger Deal

Submitted by • February 24, 2020

The Department of Telecommunications on Friday approved the long-pending merger of Bharti Infratel with Indus Towers to help both telcos, particularly Vodafone Idea, to sell their stakes in the entity to raise funds.Official sources said the approval has been given to the merger without any conditions.The deal was stuck as DoT held the FDI approval in abeyance due to a Rs 22,000 crore withholding tax dispute between UK’s Vodafone Group and India.This approval was key for merger of the two tower companies and in turn, crucial for Vodafone Idea to divest its stake and raise funds.

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