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Info-Tech - Mergers & Acquisitions
Hikes stake in Subex

Bangalore, Nov. 10

The Government of Singapore Investment Corporation Pte Ltd has increased its stake in telecom software maker Subex Ltd by purchasing 74,107 shares from the open market. The latest acquisition increases Singapore Investment Corporation stake to 7.23 per cent in Subex. Foreign institutional investors such as Citigroup Global, HSBC Global Investment, Swiss Finance, Deutsche Securities and Goldman Sachs held 24.52 per cent stake in Subex as of September 30, 2008. The Subex scrip ended 4.97 per cent higher to close at Rs 38.05 on Monday on the Bombay Stock Exchange. - Our Bureau

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