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GTL Infrastructure Limited

April 9th, 2008

The media had reports that GTL Infrastructure Limited may buy Essar’s tower unit in a transaction of around $ 2 billion.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

GTL Infrastructure Limited has vide its letter inter-alia stated, “The Company has not entered into any definitive agreement for purchasing any tower assets or merging itself with any one else. As a part of the strategy, the company apart from rolling out a pan-India network of towers is also in discussion with various players in the industry for inorganic growth. As and when such efforts for inorganic growth get concluded, we shall inform the Stock Exchanges.”

Entry Filed under: Equity Markets, NSE, Infrastructure