28
Wednesday
October 2020
11:18 PM IST
News Headlines
AC Milan's perfect start ends with 3-3 draw with Roma        Feels surreal, says Varun Chakravarthy on his surprise India call-up        Rohit unlikely as Mumbai and RCB aim to secure play-off berth        Vistara to start flights to Bangladesh from Nov 5 under air bubble pact        Sharing best practices, knowledge among SCO members to help startups: Goyal        Taiwan says new arms purchases to boost credible defence        President Donald Trump ahead of Joe Biden by 5 points in Texas: Poll        Pak to strengthen ties with Afghanistan: PM Imran        Loan moratorium: Lenders to credit interest on interest' to borrowers by Nov 5, Centre tells SC        Man attacks TV actress with knife in Mumbai        Polls open in first phase of Bihar elections        After over 3 months, less than 40k COVID cases reported in single day across country: Govt data        India, US ink defence pact; Pompeo says US stands with India, mentions killing of Indian soldiers        'Dynastic corruption' growing challenge for the country: PM Narendra Modi        Former Union Min Dilip Ray gets three-yr jail in coal scam case        Bihar assembly election Campaign ends for first phase        Kerala CM writes to counterparts in Maha, TN        COVID 19: Kerala registers 7,101 recoveries, 20 deaths        Govt announces financial package for rejuvenation of KSRTC        COVID-19 vaccination to begin in Venezuela Around April - President Maduro        
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Business News
Vodafone lenders approve merger of Indus Towers with Bharti Infratel
 
New Delhi, Oct 5 (PTI) British telecom major Vodafone Group on Monday said it has received an approval from its lenders, who contributed in funding for Vodafone Idea, to proceed with the merger of Indus Towers with Bharti Infratel.

Vodafone Idea holds 11.15 per cent stake in Indus Towers, which is estimated to be valued at around Rs 4,000 crore.

Vodafone Group Plc had announced on September 1, 2020 that it had agreed to proceed with the merger of Indus Towers Limited 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 from Vodafone's existing lenders, for the 1.3 billion euros (about Rs 11,100 crore) loan utilised to fund Vodafone's contribution to the Vodafone Idea Ltd rights issue in 2019. This consent has now been received," Vodafone said in a statement.

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," Vodafone said in a statement.


Vistara to start flights to Bangladesh from Nov 5 under air bubble pact
Sharing best practices, knowledge among SCO members to help startups: Goyal
Cathay Pacific cuts 8,500 jobs, shutters regional airline
Asian shares rise after Wall Street gains on solid earnings
HDFC Bank Q2 net profit rises 16% to Rs 7,703 cr
Brexit trade talks: both EU and UK dig in heels
Sensex declines over 200 pts in early trade; Nifty tests 11,900
Apple unveils new iPhones for faster 5G wireless networks
Vedanta plummets over 24 pc after delisting fails
Govt to give cash vouchers to staff in lieu of LTC this year: FM
Govt to facilitate renewal of international driving licence for citizens who are abroad
Eyeing 20 pc share in automobile transportation by 2021-22, Railway min meets industry leaders
Zydus Cadila launches new product for COPD patients in India
Japan seeks to boost catch limits of prized bluefin tuna
Glenmark Pharma gets USFDA nod to market drug for relapsing multiple sclerosis
States should stand firm, reject Centre's options on GST compensation cess: Chidambaram
Your jobs, increments, bonuses are secure: Puri to HDFC Bank employees
Asian shares rise on optimism about Trump's recovery
Flipkart partners Paytm for festive sale
Markets mixed after Trump-Biden debate; data lifts China
KERALA NEWS
Kerala CM writes to counterparts in Maha, TN
 Thiruvananthapuram: In the backdrop of spiralling prices of onions and other vegetables in Kerala, C  
COVID 19: Kerala registers 7,101 recoveries, 20 deaths
Kerala Congress P C Thomas faction likely to join UDF
Seaplane to be used for flights between Sabarmati riverfront, Statue of Unity reaches Kochi
INTERNATIONAL NEWS
Taiwan says new arms purchases to boost credible defence
 Taipei, Oct 27 (AP) Taiwan said Tuesday that proposed US sales of missiles and other arms systems wi
President Donald Trump ahead of Joe Biden by 5 points in Texas: Poll
Pak to strengthen ties with Afghanistan: PM Imran
COVID-19 vaccination to begin in Venezuela Around April - President Maduro
NATIONAL NEWS
Loan moratorium: Lenders to credit interest on interest' to borrowers by Nov 5, Centre tells SC
 New Delhi, Oct 27 (PTI) The Centre has informed the Supreme Court that lenders have been directed to
Man attacks TV actress with knife in Mumbai
Polls open in first phase of Bihar elections
Former Union Min Dilip Ray gets three-yr jail in coal scam case
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