CCI provides nod to merger of GTL Infra and CNIL, Telecom Information, ET Telecom

CCI gives nod to merger of GTL Infra and CNIL ET All centre/ET Mumbai: The Competitors Fee of India has given its nod to the merger of telecom tower companies Chennai Community Infrastructure Restricted (CNIL) and GTL Infrastructure Restricted (GTL Infra). In line with the submitting within the Bombay Inventory Change, the merged entity will proceed to function as GTL Infra.

The proposed merger will create a big impartial and unbiased telecom tower firm with pan-India presence throughout 22 telecom circles having 27,759 towers with 50,845 tenants as on March 31, 2017.

GTL Infra is a part of International Group which has community companies agency GTL and infrastructure sharing agency CNIL. This proposed merger is a part of the strategic debt restructuring program aimed to carry down GTL Infra’s and CNIL’s debt.
The mixed debt of those two firms in FY10-11 was Rs 10807 crore and after the SDR it has come right down to Rs 4193 crore The mixed entity’s income as of March 2017 was Rs2286 crore.

‘The merger as soon as accomplished will carry a number of operational and monetary synergies that embrace the Firm’s enhanced skills to garner incremental tenancies by assembly the community growth necessities of the Telecom Operators, productiveness positive factors and optimized value constructions via sharing of assets and accessible belongings,’ stated the agency in its assertion.
The businesses are but to get approval from NCLT amongst others.

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