BT mulls selling its stake in Tech Mahindra
UK-based IT and telecom major BT Group is understood to mull over the sale of its 31 per cent stake in Iecom group, which owns 31 per cent stake in the Tech Mahindra may sell all or a large part of its stake in the joint venture, sources close to ...
By PTI |
NEW DELHI : UK-based IT and telecom major BT Group is understood to mull over the sale of its 31 per cent stake in Iecom group which owns 31 per cent stake in the Tech Mahindra may sell all or a large part of its stake in the joint venture, sources close to the development said.
However, when contacted BT spokesperson in India said, "BT has operations and investments worldwide which we regularly review. India remains a critical market both for BT and our customers, and we expect to continue developing both the operational network and service presence that we have established over a number of years."
Tech Mahindra is a global systems integrator and business transformation consulting firm focused on the communications industry. Majority owned by Mahindra & Mahindra, one of the leading industrial houses in India, in partnership with British Telecommunications (BT), worlds leading communications service provider.
Tech Mahindra is the sixth largest software exporter in India.
The market is witnessing a trend of multi-nationals selling out their outsourcing units and captives in India to focus on core activities now a days. General Electrics and Aviva had already offloaded their captives in India and even Citi Group may sell its BPO arm Citi Global services.
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However, terming it as speculation Tech Mahindra President Sanjay Kalra said, "As a strategic partner of BT, we have enjoyed a great relationship with BT over many years and will continue delivering on long term contracts and winning new business." Start a SIP with as low as ₹500 with ET Money App!
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