Bharti Infratel slips 1.5% as merger with Indus Towers gets delayed

In October this year, Bharti Infratel had extended the deadline for merger by two months to December 24.

Shares of Bharti Enterprises companies, Bharti Infratel and Bharti Airtel, slipped up to over 1.5 per cent in the intra-day deals on Thursday. Investor sentiment soured after Bharti Infratel said it has extended the deadline for merger with mobile tower company Indus Towers by two more months to February 24, as it has not received the necessary government approvals so far.

"The Board of Directors has further extended the long stop date till February 24, 2020, subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme,"