Reuters: “Spanco Tele board oks buying up to 15 pct in Vihaan Networks”
MUMBAI, July 31 (Reuters) – Spanco Telesystems Ltd (SPTS.BO: Quote, Profile, Research) said on Thursday its board has approved a proposal to acquire up to 15 percent stake in Vihaan Networks Ltd, a product company manufacturing GSM equipment.
The equipment can be used in telecom and mobile operators network to extend their reach in rural markets and augment subscriber base in a cost effective manner, it said in a statement.
Shares in Spanco were trading up 0.4 percent at 97.20 rupees in a weak Mumbai market. (Reporting by Janaki Krishnan; Editing by Ramya Venugopal)