ICICI Bank extends losses to 5 pc after acquisitionc

Shares of India's top confidential lender ICICI Bank comprehensive losses to 5 per cent, a day after it agreed to buy the small private sector Bank of Rajasthan, including concerns that pays a high price.

Based on the all-stock agreement's interest rate swap and Tuesday final prices, would pay ICICI 188.42 rupees per share, a premium of 89 percent for the small lender's Tuesday close, valuing the commerce at $ 668,000,000.

For 955 (0425 GMT), ICICI Bank shares were down 5.3 percent rupees 841.45 in a weak Mumbai market.