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    BT sells 14.1% stake in Tech Mahindra

    BT Group said on Thursday it had more than halved its stake in Tech Mahindra by selling 17.9 million shares, or 14.1% of the group's equity, for 158.6 million pounds.

    August 30, 2012 / 22:00 IST
       
       
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      BT Group said on Thursday it had more than halved its stake in Tech Mahindra by selling 17.9 million shares, or 14.1% of the group's equity, for 158.6 million pounds.


      The disposal leaves BT with a 9.1% stake in the provider of software and services to the global telecommunications industry, which it founded with Indian sports utility vehicle and tractor maker Mahindra and Mahindra in 1986.


      The shares were sold at Rs 777.73 apiece, a discount of 6.8% from its Wednesday close. The shares closed down 5% at Rs 793.05. British telecommunications group BT said further sales could be considered.

      first published: Aug 30, 2012 08:12 pm

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