To bring down its stake in Reliance Communications, Sistema Shyam Teleservices has sold 80.3 million shares representing 2.9 per cent equity stake in Reliance Communications. Now it holds only 7 per cent stake in RCom.
Sistema Shyam Teleservices said in a regulatory filing: “Weinform you of the disposal (swap)/sale of 8,03,80,191 equity shares of Rs 5 each representing 2.907 per cent of shares of Reliance Communications Ltd (RCom)."
Sistema added that the transaction involved two parts - 69.5 million shares through swap of SSTL shares for RCom shares in line with the scheme of arrangement, and 10.8 million shares sold in the open market.
Sistema added that the transaction involved two parts - 69.5 million shares through swap of SSTL shares for RCom shares in line with the scheme of arrangement, and 10.8 million shares sold in the open market.
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