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Telecom equipment manufacturer GTL Infrastructure has said its shareholders have approved the amalgamation of Chennai Network Infrastructure Ltd with itself.
“GTL Infrastructure has informed that the equity shareholders of the company approved the scheme of arrangement between Chennai Network Infrastructure Ltd and GTL Infrastructure and their respective shareholders,” the company said in a filing to the Bombay Stock Exchange today.
The scheme envisages an exchange ratio of one 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.
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