UPDATE 1-India's Ashok Leyland buys 26 pct in UK's Optare

Newswire

* Optare to raise 5.6 mln stg via stake sale, warrants * Ashok Leyland drops offer plans, keeps options open * Ashok says reserves right to make offer in 6 months * Optare shares fall more than 10 pct (Adds details) July 29 (Reuters) - British bus maker Optare said larger Indian rival Ashok Leyland would buy a 26 percent stake in the company to strengthen its financial base. Optare, which makes zero-emission vehicles, will issue 99.4 million shares to the Indian truck and bus maker ...

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