Monday, November 29, 1999

GTL Infra-Aircel deal gets Chennai High Court approval

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New Delhi, June 16 (PTI) 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.

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