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Bharti Infratel hits 5-year low as deadline for merger with Indus extends

The company has extended the deadline for its merger with Indus Towers by two months till December 24, 2019.

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SI Reporter Mumbai
Shares of Bharti Infratel hit an over five-year low of Rs 219, down 8 per cent on Friday, extending its Thursday’s 8 per cent decline on the BSE after the company extended the deadline for its merger with Indus Towers by two months while considering regulatory uncertainty looming over the deal.

The stock of the tower and related infrastructure sharing services provider was trading at its lowest level since May 2014.

“The board of directors, in its meeting held on October 24, 2019, has accepted the Committee of Directors (CoD's) recommendations to extend the long stop date by