AT&T buys 8.07% stake in Tech Mahindra
AT&T has bought 8.07% stake in Tech Mahindra for $200 million. AT&T bought the stake from British Telecom. This stake sale will bring the stake of British Telecom to 22.79% from 30.85%. With 40% of Tech Mahindra’s revenues coming from BT it is Tech Mahindra’s biggest customer also.
British Telecom has been reducing its stake in Tech Mahindra strategically. And Tech Mahindra has strategically reduced its exposure to BT. Buying the scam ridden Satyam computers and renaming it to Mahindra Satyam is a part of this plan.
Shareholder pattern before the deal :
Shareholder pattern after the deal :
This might be the first of many deals we will see for India Inc. Shareholder pattern source.
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