Merger Update - Bharti Infratel and Indus Towers

RNS Number : 0258B

Vodafone Group Plc

05 October 2020

 

5 October 2020

UPDATE ON THE MERGER OF BHARTI INFRATEL AND INDUS TOWERS

Vodafone Group Plc ("Vodafone") announced on 1 September 2020 that it had agreed to proceed with the merger of Indus Towers Limited ("Indus Towers") and Bharti Infratel Limited ("Bharti Infratel", together the "Combined Company").

The agreement to proceed was conditional on consent for a security package for the benefit of the Combined Company (the "Security Package") from Vodafone's existing lenders (for the €1.3 billion loan utilised to fund Vodafone's contribution to the Vodafone Idea Ltd rights issue in 2019). This consent has now been received. The parties will now approach the National Company Law Tribunal to make the merger scheme effective. The parties are working to complete the transaction expeditiously.

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Vodafone is a leading technology communications company keeping society connected and building a digital future for everyone. 

Vodafone is focused on two scaled and differentiated regional platforms in Europe and Africa.  We operate mobile and fixed networks in 22 countries and partner with mobile networks in 48 more.  As at 30 June 2020 we had over 300m mobile customers, more than 27m fixed broadband customers and over 22m TV customers.

We connect for a better future.  We are optimistic about how technology and connectivity can enhance the future and improve people's lives. Through our business, we aim to build a digital society that enhances socio-economic progress, embraces everyone and does not come at the cost of our planet. That is why we have committed to improve one billion lives and halve our environmental impact by 2025.

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