Bharti Airtel shareholders approve merger proposal with Tata Teleservices as part of ongoing proceedings at NCLT

New Delhi: Telecom major Bharti Airtel on Wednesday 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 percent voting in favour of the resolution, Bharti Airtel said in a regulatory filing.

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

About 99.97 percent 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 28 August as per the directions of the Principal Bench of the NCLT in New Delhi.

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Updated Date: Aug 30, 2018 11:19:12 IST

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