SAR Televenture calls of ₹669-crore deal to acquire internet provider Tikona Infinet
NEW DELHI: Telecom infrastructure firm SAR Televenture has called off its acquisition of internet service provider Tikona Infinet due to delays in regulatory approvals, ending a deal valued at around ₹669 crore.
SAR Televenture had originally signed a share purchase agreement on October 29, 2024, to acquire a 91% stake in Tikona Infinet through a share swap agreement.
In a regulatory filing on Monday, the company stated its board approved withdrawing the application submitted to the National Stock Exchange of India for issuing 1,26,06,000 equity shares tied to the transaction.
