Singtel's India unit gets go-ahead for merger

Its board of directors also extended its long stop date to 24 April.

Bharti Infratel, a subsidiary of Singtel’s India associate Bharti Airtel, has received a foreign direct investment (FDI) approval to merge with mobile tower installation company Indus Towers, an SGX filing revealed.

In addition, Bharti Airtel’s board of directors extended its long stop date from 24 February to 24 April.

The decision is subject to agreement on closing adjustments and other conditions precedent for closing, with each party retaining the right to terminate and withdraw the scheme.

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