April 2010
M T W T F S S
« Mar   May »
 1234
567891011
12131415161718
19202122232425
2627282930  

Contact us

AT&T Sells Full 7% Stake In Tech Mahindra For About INR6.55 Bln

AT&T Inc. (T) Wednesday sold its entire 7% stake in Tech Mahindra Ltd. (532775.BY) through two block deals for about INR6.55 billion ($147 million), leaving analysts worried that this could hurt outsourcing business from the U.S. telecommunications major to the Indian software services provider. The stake sale comes just a month after AT&T International Inc., a unit of AT&T, bought an 8.07% stake, or about 9.9 million shares, in Tech Mahindra from Mahindra-BT Investment Co. (Mauritius) Ltd. for $34.6 million as part of a 2005 agreement with the Indian company. AT&T sold just over 1% stake earlier this month and the balance 8.6 million shares Wednesday at about INR762 apiece, two people familiar with the matter told Dow Jones Newswires. […]