AT&T has sold its entire 7% stake in Tech Mahindra via two block deals on the Bombay and National Stock Exchanges for Rs6.55bn (US$147m).
The sale follows last month’s news that AT&T International picked up an 8.07% stake in Tech Mahindra from…
AT&T has sold its entire 7% stake in Tech Mahindra via two block deals on the Bombay and National Stock Exchanges for Rs6.55bn (US$147m).
The sale follows last month’s news that AT&T International picked up an 8.07% stake in Tech Mahindra from Mahindra-BT Investment (Mauritius) for US$34.6m as part of a 2005 agreement.
In this deal, AT&T sold the 7% stake at about Rs762 per share.
Life Insurance Corp is thought to be one of the buyers of the stake.