Bharti Airtel Shareholders Approve Merger proposal With Tata Teleservices

Telecom major Bharti Airtel today said its shareholders have approved the proposed merger between the company and Tata Teleservices as part of ongoing proceedings at the National Company Law Tribunal (NCLT).

The special resolution to approve the proposed composite scheme of arrangement between Tata Teleservices, Bharti Airtel and Bharti Hexacom received 99.97 per cent voting in favour of the resolution, Bharti Airtel said in a regulatory filing.

There was 100 per cent voting in favour of the resolution from the promoter and promoter group, as well as public – institutions category.

About 99.97 per cent votes were cast in favour of the proposal by the public non-institutions shareholders, it added.

The filing detailed out the “voting results of the meeting of equity shareholders of Bharti Airtel” convened on August 28 as per the directions of the Principal Bench of the NCLT in New Delhi. – Business Standard