British Telecom may sell 7 per cent stake in Tech Mahindra: Sources

10 May 2010

1

UK-based British Telecom is in exploratory talks to dilute 7 per cent in Tech Mahindra, reports CNBC-TV18's Kritika Saxena. BT has invited EOUs (Expressions of Interest) to sell this stake.

BT currently holds 30.83 per cent in Tech Mahindra and the stake is valued at Rs617.76 crore at the current market price of Rs 721 per share.

Sources also say that Mutual Fund houses and Private Equity players have expressed interest in acquiring this stake. Tech Mahindra's CEO Vineet Nayyar however has said that no such communication has been made by BT to the company.

BT remained unavailable for comment.

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