Telecom infrastructure firm GTL Infrastructure today said it may take a hit of Rs 7 crore a month at a rate of 6% of its monthly consolidated revenue due to the cancellation of 122 2G licences by the Supreme Court.
GTL group companies, including GTL Ltd and GTL Infrastructure, have received final approval from lenders for restructuring loans worth Rs 16,000 crore, two sources familiar with the matter said on Tuesday.
Defying a weakness in the broader stock market trend, the shares of telecom infrastructure firm GTL Infrastructure and its parent company GTL Ltd today rallied on the bourses amid reports about a debt restructuring package being approved by the lenders.
Telecom company GTL Infrastructure has admitted undisclosed income of over Rs 500 crore to the Income Tax (I-T) department, Parliament was informed today.
GTL and GTL Infrastructure have jumped around 14% each to Rs 44 and Rs 10 respectively on the back of news reports that the company's corporate debt restructuring (CDR) cell will meet today to contemplate the debt-to-equity conversion proposal.
GTL and GTL Infrastructure have rallied nearly 35% and 15% respectively in late noon deals on reports that the lenders have approved the debt restructuring proposal for the two companies.
Shares of GTL and GTL Infrastructure are trading higher by more than 5% each in an otherwise subdued market on reports that global private equity giants plan to buyout the company’s assets.
Telecom tower company GTL Infrastructure today widened its net loss at Rs 84 crore for the quarter ended June 30, 2011, mainly on account of interest and finance charges.
Telecom tower firm Viom Networks has made a Rs 7,500 crore ($1.69 billion) offer to buy out its competitor GTL Infrastructure, a financial daily reported on Friday.
Shares of GTL Infrastructure rose as much as 12% in early trade after a report said telecom tower firm Viom Networks has made a Rs 7,500 crore ($1.69 billion) offer to buy it out.
Telecom equipment manufacturer GTL Infrastructure today said its board had approved the draft of the debtor-creditors agreement under Corporate Debt Restructuring (CDR) scheme.
GTL Infrastructure has rallied 5% to Rs 16.45 on reports that Viom Networks, a joint venture between Srei and Tata Teleservices, are in preliminary discussions with bankers exploring a strategic merger with the company.
Telecom tower company Viom Networks is eyeing GTL Infrastructure. Sources familiar with the development say feelers have been sent for a merger involving a share swap.
Telecom infrastructure firms GTL and GTL Infrastructure have roped in SBI Capital Markets to review their businesses and financial performance and obligations, a move aimed at dispelling investors' concerns arising from the recent plunge in their stocks.
It is a tale of two deals: One completed and the other, announced and later aborted. Monday’s mysterious crash of the GTL Group shares could have its origin in the deals, said analysts.
Telecom equipments manufacturer GTL Infrastructure today said its shareholders have approved the amalgamation of Chennai Network Infrastructure Ltd with itself.
