ICICI Bank seen taking 29.3% GTL stake after share pledge

Mumbai/Singapore: ICICI Bank has assumed a 29.3 percent stake in debt-laden Indian telecom infrastructure company GTL after taking over 28.5 million shares pledged by its promoter, a source with direct knowledge of the matter told Reuters. [caption id=“attachment_50728” align=“alignleft” width=“380” caption=“ICICI Bank: Standing tall. B Mathur/Reuters”] [/caption] IFR, citing another source, reported earlier on Friday that the lender took over a roughly 30 percent stake on Thursday, when GTL’s stock ended at Rs 68.2 on the Bombay Stock Exchange. Reuters