Tuesday, 2 May 2017

Reliance Communications provides update on demerger of tower division of Reliance Infratel

The shareholders of Reliance Infratel (RITL), a subsidiary of Reliance Communications (RCOM) at their meeting convened on 29 April 2017 pursuant to the order of the National Company Law Tribunal (NCLT), have approved with 98% majority the Scheme of Arrangement for demerger of the Tower division of the RITL into Towercom Infrastructure (TIPL). Upon the completion of the demerger, through a Scheme of Arrangement, and the completion of certain other conditions and approvals, Rapid Holdings 2, a company which is a part of the Brookfield Infrastructure Group will acquire 100% of TIPL and thereby creating the second largest independent and operator-neutral Towers company in India. 

The Shareholders of TIPL, a subsidiary of the Company, have also approved the said Scheme at their meeting held on 29 April 2017, convened under the order of the NCLT. The Company has already received approval from Competition Commission of India for the proposed Scheme of Arrangement. One a one MISSED CALL on @9644405056 you can have your Free Trials for two days in Share Market so why are you waiting for, Hurry up! SUBSCRIBE US >> http://www.ripplesadvisory.com/free-trial.php

No comments:

Post a Comment