BT planning to sell its stake in Tech Mahindra

Mumbai: British Telecom is in talks with hardware telecom companies to sell its 24.4 per cent stake in Tech Mahindra, reports CNBC-TV18’s Kritika Saxena quoting sources. It is learnt that Alcatel-Lucent, Ericsson and Siemens are in the fray.

Sources add that the stake sale may be in two tranches, selling 10 per cent in the first go. Though the price is not known, it is learnt that BT is likely to sell the stake at current market price and the first tranche sale may be in August.

However, BT requires to Mahindra and Mahindra’s (M&M) nod before going ahead with stake sale. BT is learnt to use the sales proceeds for global expansion.