UK telco BT may be planning to sell approximately half of its stake in the Indian IT outsourcing company Tech Mahindra later in the year, according to media reports.
A Wall Street Journal report yesterday cited an anonymous source familiar to the matter…
UK telco BT may be planning to sell approximately half of its stake in the Indian IT outsourcing company Tech Mahindra later in the year, according to media reports.
A Wall Street Journal report yesterday cited an anonymous source familiar to the matter saying that BT was going to reduce its stake in the company, but it may stagger the sale over a longer period.
Tech Mahindra was set up by the British telco BT and the Indian carmaker Mahindra & Mahindra in 1986 as a provider of IT services to the telecommunications sector.
In December 2010, BT sold a 5.5% stake in the company to M&M for £63m (US$102). BT retains a 24% stake in the company. M&M currently has a 43% stake.