Following acquisition of shares by Indian promoters Universal Cables & Vindhya Telelinks
Birla Ericsson Optical announced that Universal Cables ('UCL') and Vindhya Telelinks ('VTL') (hereinafter collectively referred as ' Indian Venturers'/ promoters) have intimated the Company that they have executed a Share Purchase Agreement (SPA) with Ericssson Network Technologies, AB (Formerly known as Ericsson Cables AB) Sweden (hereinafter referred as 'Overseas Venturer' or 'ENT') for the acquisition of entire shareholding of ENT in the Company i.e. 82,50,000 fully paid up equity shares of Rs 10/- each (comprising 27.50% of total shareholding of the Company) by the Indian ventures and/ or other Promoters/ Promoter group persons/ entities of BEOL as designated by the Indian venturers. After such transfer, ENT shall cease to be a Promoter/Shareholder/Technical Collaborator of the Company.Powered by Capital Market - Live News
