GTL Denies Tower Buy Back Reports
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In a clarification to the Bombay Stock Exchange ("We wish to clarify that the news item is highly speculative in nature and the Company denies the contents of the said article,” clarified the company in a letter.
The company further added that it doesn’t possess any material price-sensitive information that was not declared as required under Clause 36 of Listing Agreement, which could affect the share prices of the company.
“Kindly note that the Company adheres to the best corporate governance practices and accordingly have been submitting all material price-sensitive information to the exchanges in the past. In accordance with the Listing Agreement, the Company will continue to submit any material price sensitive information in future”, stated the letter.
Earlier this month, a news report suggested that the Chennai-based service provider Aircel was planning to buy back the telecom towers it sold to GTL Infrastructure in 2010. The report further added that the operator has been infused with cash, a part of which has been utilized to pay outstanding amounts of about Rs 3,000 crore to GTL Infrastructure and other vendors.
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Image: Indiatimes.com
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