GTL Infrastructure?s shareholders have approved the amalgamation of Chennai Network Infrastructure Limited with itself.
In a filing to the Bombay Stock Exchange, the company said, ?GTL Infrastructure has informed that the equity shareholders of the company approved the scheme of arrangement between Chennai Network Infrastructure Limited and GTL Infrastructure and their respective shareholders.?
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.
