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Indus Towers-Bharti Infratel merger soon; Bimal Dayal to be the CEO

Dayal will be responsible for the combined business and take forward integration of the two companies in preparation of the merger

Press Trust of India  |  New Delhi 

Reliance Jio, telecom, towers, mobile towers

Bharti and on Tuesday named as the CEO of the mega tower company proposed to be formed from merger of and Bharti Infratel, and said the merger process is in "advanced stage of completion".

Dayal will be responsible for the combined business and take forward integration of the two in preparation of the merger, a joint statement said.

"(currently CEO, Indus Towers) is proposed to be appointed as the of the merged entity," it said.

Hemant Ruia, currently CFO of Indus Towers, is proposed to be appointed as the of the combined entity, the statement added.

The existing leadership teams of both and Bharti Infratel will continue to manage their respective businesses till the merger becomes effective.

"Shareholder Groups (Bharti and Vodafone Group) of combined entity resulting from the merger of with Bharti Infratel today announced that the merger process is at an advanced stage of completion," the statement said.

Bharti and look forward to early completion of the merger and move towards successful integration, it noted.

The merger of Bharti Infratel and Indus Towers will create a pan-India tower company, with over 163,000 towers, operating across all 22 telecom service areas in India.

First Published: Tue, May 21 2019. 19:41 IST
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