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Our Bureau

Mumbai , Sept. 11

Tata Sons has hiked its stake in Videsh Sanchar Nigam Ltd (VSNL) through open market purchase.

The holding company of the Tata Group acquired 2 per cent stake in VSNL between August 9 and September 8, and now has 7.64 per cent stake in the company, according to a statement issued to the stock exchanges on Monday.

Panatone Finvest Ltd, another Tata Group company, holds over 40 per cent stake in VSNL, while Tata Power holds less than one per cent, as of June.The Government holds over 26 per cent stake in VSNL. This is in keeping with the Tata Group's decision to increase holding in the key individual companies in its fold, said analysts. The shares of VSNL closed at Rs 395.20 on the BSE, losing Rs 27.90 from the previous close.

More Stories on : Mergers & Acquisitions | Stocks | Videsh Sanchar Nigam Ltd

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