Bharti Airtel shareholders approve merger proposal with Tata Teleservices

Telecom major Bharti Airtel today 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.