BT sale of 14.1% Tech Mahindra stake completed
By Bianca Ghose | Published On: August 31, 2012 07:30 (IST) | Duration: 0 min, 37 sec
Telecom giant BT on Thursday sold 14.1 per cent, or 17.9 million shares, in Tech Mahindra to institutional investors for Rs 1,395 crore at Rs 777.73 per share and said it would consider further such sales in future. Following the sale, BT has reduced its stake in Tech Mahindra from 23.16 per cent to 9.1 per cent. The stake sale comes as Tech Mahindra and Mahindra Satyam are nearing their merger.