BT sells 14.1% stake in India's Tech Mahindra
British telecoms group BT said Thursday that it has completed the sale of a 14.1-percent stake in Indian IT group Tech Mahindra to institutional investors for £158.6 million.
The London-listed company added in a statement that the divestment, worth the equivalent of 200 million euros or $252 million, will reduce its overall shareholding to 9.1 percent.
"Further sales may be considered in the future," added BT, noting that Tech Mahindra would remain a key supplier.
BT and Indian vehicle and farm equipment manufacturer Mahindra & Mahindra founded Tech Mahindra in 1986.
(c) 2012 AFP
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BT sells 14.1% stake in India's Tech Mahindra (2012, August 30)
retrieved 25 April 2024
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