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 in 1986.


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(c) 2012 AFP

Citation: BT sells 14.1% stake in India's Tech Mahindra (2012, August 30) retrieved 28 November 2021 from https://phys.org/news/2012-08-bt-stake-india-tech-mahindra.html
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