Bharti Airtel Creditors & Shareholders to approve Scheme of Arrangement

Bharti Airtel Ltd has announced that pursuant to the Order made by the Hon'ble High Court of Delhi, separate meetings of the secured creditors & unsecured creditors of the Company will be held on September 08, 2007, for the purpose of considering, and if thought fit, approving, with or without modifications, the Scheme of Arrangement of the Company (Transferor Company/Applicant Company-I) with Bharti Infratel Ltd (Transferee Company/Applicant Company-II).

Further the Company has informed that, pursuant to the Order made by the Hon'ble High Court of Delhi, a meeting of the shareholders of the Company will be held on September 07, 2007, for the purpose of considering, and if thought fit, approving, with or without modifications, the Scheme of Arrangement of the Company (Transferor Company/Applicant Company-I) with Bharti Infratel Ltd (Transferee Company/Applicant Company-II).

The stock was trading at Rs.848, up by Rs.9.20 or 1.10%. The stock hit an intraday high of Rs.850.95 and low of Rs.835.60. The total traded quantity was 92424 compared to 2 week average of 258800.

Source : Equity Bulls

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