AT&T sells remaining 7% stake in Tech Mahindra

The $147 million block trade, which was anchored by one large buyer, comes just over one month after the US telecom operator bought an 8.07% stake in Tech Mahindra through the exercise of share options.

ATT yesterday sold its entire remaining stake in Indian IT services provider Tech Mahindra through a block trade, realising approximately Rs6.6 billion $147 million. The sale, which was completed before the Indian market opened, came just over a month after the US telecom operator acquired an 8.07% stake in Tech Mahindra through the exercise of a number of options that it obtained through an agreement with the Indian company in 2005.

The quick divestment prompted some concern among...

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