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While British Telecom (BT) is mulling to take a complete exit from its Indian venture Tech Mahindra, the rumors are there that it will offer its 31% stake to TCS.
No comments have been reached yet.
No indications are there if BT has informed Mahindra & Mahindra, the single largest stake holder with 44% share in Tech Mahindra about its latest move.
The company has not been valued yet but the market cap of the company is close to $2.5 billion as per the current share price of firm.
Some insiders have quoted it as just rumors and stated that BT does not comment on rumors and speculations. Tech Mahindra, which has 65% of its revenue coming from BT, recently got a $700-million contract from a UK company.
BT currently reported a revenue of $934.7 million during FY’ 08, a 44% year-on-year growth. It employs about 24,000 workers. Jaya Sinha/ITVoir Network |
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