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ICICI Bank seen taking 29.3% GTL stake after share pledge

GTL's stock ended at Rs 68.2 on the Bombay Stock Exchange on Friday.

FP Archives|Jul 29, 2011, 16:45:20 IST

Mumbai/Singapore: ICICI Bank has assumed a 29.3 percent stake in debt-laden Indian telecom infrastructure company GTL after taking over 28.5 million shares pledged by its promoter, a source with direct knowledge of the matter told Reuters.[caption id="attachment_50728" align="alignleft" width="380" caption="ICICI Bank: Standing tall. B Mathur/Reuters"][/caption]IFR, citing another source, reported earlier on Friday that the lender took over a roughly 30 percent stake on Thursday, when GTL's stock ended at Rs 68.2 on the Bombay Stock Exchange.Reuters

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