IiAS supports Airtel-Telenor merger

NEW DELHI: Proxy advisory firm Institutional Investor Advisory Services (IiAS) supports the merger between Bharti Airtel and Telenor India which comes up for shareholder voting on Tuesday. In contrast with Stakeholders Empowerment Services (SES), another such firm, IiAS said in a report to shareholders that diligence done by the audit firms were adequate. The merger, it said, was beneficial to Bharti as it adds crucial spectrum and subscribers to Airtel.