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GTL Infrastructure on Tuesday said its board will meet on December 29 to consider corporate debt restructuring and amalgamation of Chennai Network Infrastructure (CNIL) with it.
“Meeting of the board of Directors of the company will be held on December 29, 2011, to consider letter of approval received from corporate debt restructuring cell in respect of restructuring of the company’s debt and other related matters,” GTL Infrastructure said in a filing to the BSE.
It added that the board will also consider withdrawal of scheme of arrangement between the company and Chennai Network Infrastructure and consider fresh scheme of amalgamation.
The company’s shareholders had approved scheme of amalgamation of CNIL with itself in April.
The scheme envisaged an exchange ratio of 1 equity share of GTL Infra for every four equity shares of CNIL.
CNIL was formed as a special purpose vehicle to acquire Aircel’s tower assets.
Shares of the company today closed at Rs 8.86 a piece, down by 0.89 per cent compared to its previous close at BSE.
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