Tata Sons arm to buy 43.3% stake in Tejas Network for Rs 1,850 cr

Tata Sons subsidiary Panatone Finvest Ltd has proposed to buy a 43.3 per cent stake in Tejas Networks, a global optical, broadband and data networking products company, for around Rs 1,850 crore.

Panatone and other companies of the Tata group would make a public announcement to acquire up to 4.03 crore equity shares of Tejas Networks representing 26 per cent of the emerging voting capital in accordance with Sebi Takeover Regulations. The total cost of acquisition will touch Rs 2,850 crore if the public offer is taken into consideration.

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