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Journalism of Courage
Shares of telecom equipment maker GTL Infrastructure today surged 10 per cent on the bourses amid media reports that the company has got a takeover offer.
On the NSE,the stock zoomed up 10.18 per cent to close at Rs 15.15. Similarly,the stock settled 9.09 per cent higher at Rs 15 on the BSE.
Intra-day,the scrip touched a high of Rs 16.10,up 17 per cent from the previous close.
As per the media reports,telecom tower company Viom Networks has made a Rs 7,500-crore offer to buy out GTL Infrastructure.
However,GTL Infra has issued a clarification to the stock exchanges saying,There are many aspirants who want to acquire company’s assets or partner with the company.
Viom has not entered into any formal discussion with the company and hence the question of Rs 7,500 crore,or Rs 10,500 crore being the offer value does not arise.
The company also said the fact that players like Viom continue to approach and show their interest in GTL Infra is a tribute to the business that the company have built. As and when there will be any material development,the Company will keep posted in the matter.
