GTL Infrastructure today said the Chennai High Court has approved the company's acquisition of Aircel's tower business, valued at Rs 8,400 crore.
"The honourable high court of Chennai has approved the scheme of arrangement," GTL Infra said in a statement.
GTL Infra had earlier this year entered into an agreement to purchase the telecom tower business of Aircel, subject to regulatory and other approvals.
Following the acquisition, GTL Infra now has more than 32,500 towers across all 23 telecom circles in the country.
GTL Infra aims to have a tower base of over 50,000 by 2012-13.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app