GTL Infrastructure on Wednesday said in New Delhi that the Chennai High Court had approved its acquisition of Aircel's tower business, valued at Rs.8,400 crore, say reports.
The high court of Chennai has approved the scheme of arrangement, GTL Infra said in a statement.
GTL Infra earlier this year entered into an agreement to purchase the telecom tower business of Aircel, subject to regulatory and other approvals.
Following the acquisition, GTL Infra now has more than 32,500 towers across all 23 telecom circles in the country. It aims to have a tower base of over 50,000 by 2012-13.
At the BSE, GTL Infra share is currently trading at Rs.42.45, up by 0.24% from the previous close.
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