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ICICI takes 29.30% stake in GTL after share pledge

One of the promoter group firm of GTL Ltd, Global Holding Corporation, had pledged 2.85 crore shares, representing 29.30 per cent stake, shares with ICICI Bank, GTL Ltd informed the Bombay Stock Exchange.

twitter-logoPTI | July 29, 2011 | Updated 18:55 IST

Country's largest private lender ICICI Bank has acquired 29.30 per cent stake in telecom network services firm GTL Ltd after taking over 2.85 crore shares pledged by the promoters.

One of the promoter group firm of GTL Ltd, Global Holding Corporation, had pledged 2.85 crore shares, representing 29.30 per cent stake, shares with ICICI Bank, GTL Ltd informed the Bombay Stock Exchange.

READ: GTL Group starts debt restructuring

On July 26, ICICI Bank invoked the full 29.30 per cent shares of the telecom infrastructure provider, the filing added.

As on March 31, 2011, Global Holding Corporation had held 52.18 per cent stake, or 5.075 crore shares, in GTL Ltd.

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