Reuters: “Spanco Tele board oks buying up to 15 pct in Vihaan Networks” 2 Aug, 2008

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)

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