Sujana Towers acquires 51% stake in Mauritius firm, stock surges 9%

sarwesh · 06-30-2008, 10:36 AM

Hyderabad-based Sujana Towers has informed that it has acquired 51% stake in Mauritius-based telecom infrastructure company Telesuprecon Ltd for an undisclosed sum.

At present, Telesuprecon is in advanced stages of negotiations for securing telecom infrastructure contracts of aggregate value around $40 million to be executed over the next 12-21 months. The company has branches in various east and central African countries.

Sujana Towers Limited manufactures structural steel products in India. It offers galvanized steel towers used in telecom and power industries. However, the company did not disclose the amount paid for the acquisition.

Shares of the company gained Rs 8, or 9%, to settle at Rs 103. The total volume of shares traded was 567,805 at the BSE. (Wednesday)

06-30-2008, 10:36 AM	#1 (permalink)
sarwesh Status: Senior Member Join Date: Jun 2008 Posts: 420	Sujana Towers acquires 51% stake in Mauritius firm, stock surges 9% Hyderabad-based Sujana Towers has informed that it has acquired 51% stake in Mauritius-based telecom infrastructure company Telesuprecon Ltd for an undisclosed sum. At present, Telesuprecon is in advanced stages of negotiations for securing telecom infrastructure contracts of aggregate value around $40 million to be executed over the next 12-21 months. The company has branches in various east and central African countries. Sujana Towers Limited manufactures structural steel products in India. It offers galvanized steel towers used in telecom and power industries. However, the company did not disclose the amount paid for the acquisition. Shares of the company gained Rs 8, or 9%, to settle at Rs 103. The total volume of shares traded was 567,805 at the BSE. (Wednesday)

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