(Alliance News) - Telit Communications PLC said Monday French bank Societe Generale SA had built a 6.4% stake in the internet of things enablement firm following a transaction last Wednesday.
Societe Generale held 8.5 million shares in Telit following the transaction, equivalent to a 6.4% stake in the 131.7 million shares in the firm. The holding of Societe Generale in Telit prior to the transaction - if any - was not disclosed.
Shares in Telit were 0.1% lower at 163.80 pence in London on Monday.