gtl infrastructure

Shares of GTL Ltd and gtl infrastructure nosedived by 62 and 47 per cent, respectively, on the BSE on Monday, significantly eroding the market values of both entities.

Bondholders of India's gtl infrastructure approved plans to exchange 35% of the company's $319 million of convertible debt due later this month for shares, the company said.

A proposed Rs 50,000-crore deal to merge telecom tower assets of Anil Ambani group firm Reliance Infratel with gtl infrastructure has failed to materialise, the two companies said on Monday.

In an attempt to become a dominant player in the mobile tower market, gtl infrastructure, which leases towers to cellphone operators, has agreed to acquire the telecom tower business of Aircel and its subsidiaries for Rs8400cr.

Shares of gtl infrastructure slumped as much as 20 per cent in morning trade today after it said the impact of Aircel's insolvency will be materially adverse for the company. Shares of the company plunged 19.85 per cent to a low of Rs 3.11 on the BSE.

Troubled GTL promoter Manoj Tirodkar and ICICI Bank are discussing a settlement after the latter opposed merger between the Mumbai-based group's telecom tower arms, gtl infrastructure, and Chennai Network Infrastructure.

Shares of telecom infrastructure firms GTL Ltd and gtl infrastructure skyrocketed by nearly 40 per cent and 20 per cent, respectively, on the BSE during intra-day trade on Friday amid media reports that lenders have approved a debt restructuring proposal for the two companies.

gtl infrastructure and mobile telephone operator Aircel are sparring over a mega tower deal gone sour.

The Delhi High Court has reversed IFCI's ownership of the pledged promoter shares in gtl infrastructure Ltd and termed the move as a contravention to the law.

Shares of Reliance Communications today climbed over 6% in the early trade, a day after the announcement of a deal to merge its telecom tower business with gtl infrastructure, whose shares sky rocketed 20%.

Shares of telecom infrastructure firms GTL and gtl infrastructure came under heavy selling pressure, plunging by over 62 per cent and 43 per cent respectively.

Reliance Jio Infocomm Limited (Reliance Jio), the telecommunications arm of Mukesh Ambani led Reliance Industries Limited (RIL) on Thursday announced tower sharing agreements with gtl infrastructure Limited (GTL Infra), a Global group enterprise, engaged in the business of shared passive telecom infrastructure in India.

Shares of telecom infrastructure firms GTL and GTL Infra zoomed by up to 12 per cent in morning trade on the BSE on Tuesday.

The proposed Rs 50,000-crore deal between Reliance Infratel (R-Infratel) and gtl infrastructure to merge telecom tower businesses of the two companies has fallen through mainly due to differences over valuation.

Reliance Communications sold off its tower business to gtl infrastructure to create the world's largest telecom infrastructure company not controlled by a telecom operator.

Deal With Goldman Sachs, JP Morgan, Telecom Majors May Fetch $700M.

The Enforcement Directorate (ED) searched around five premises of GTL Ltd (GTL Infra), a company that provides telecom towers, after registering a money laundering case on Wednesday. It is learnt that the raids were carried out on the premises of its former directors and some others under scanner at Navi Mumbai and Mumbai.

After the merger of CNIL and GTL Infra and restructuring of bonds, Global Group is expected to have around 27% holding and 23 banks will have 51% with public and bond holders owning the rest.

The $11-billion GTL-RCOM deal is being hailed as the beginning of an era of collaboration over competition.

The country's largest private lender, ICICI Bank, has acquired a 29.3% stake in troubled telecom infrastructure company GTL by taking over 28.5 million shares pledged by the promoters, making the banking giant the largest shareholder of the Manoj Tirodkar-owned company.

Reliance Communications and gtl infrastructure stocks rallied over 4% each on Monday after the two companies announced a deal to combine their passive telecom infrastructure.

The Koyambedu police have registered a case.

The owners of a building in Chennai's Koyambedu dismantled and sold a mobile tower that was installed on their terrace in 2006 for the now defunct Aircel company.

First generation entrepreneur Manoj Tirodkar's telecom infrastructure business shuddered on Monday when two of his listed companies-GTL and GTL Infra-were mauled on the bourses.

gtl infrastructure may give new shares worth as much as $3 billion, more than triple its market value, to Reliance Communications (RCOM) shareholders in exchange for the company's mobile-phone towers, two people familiar with the matter said.

The GTL-Urja, a franchisee of the Maharashtra State Electricity Distribution Company Limited (MSEDCL), is planning to develop infrastructure worth Rs 25-30 crore within Aurangabad limits.

The information commission here has directed GTL, franchisee of the Maharashtra State Electricity Distribution Company Limited (MSEDCL), to provide information under the Right to Information (RTI) Act.