Ashok Leyland Arm Raises Stake In Switch Mobility To Nearly 100%

Ashok Leyland Ltd. on Wednesday said its UK-based subsidiary Optare Plc. has acquired an additional 1.01% stake in UK-based Switch Mobility Ltd. With this, Optare's holding in Switch Mobility has risen to 99.57%.

Following the acquisition, Optare and Hinduja Automotive Ltd., UK, together will now hold 100% stake in Switch Mobility, the company said in an exchange filing.