U.K. telecommunications company BT Group PLC has restarted discussions to sell its 30.83% stake in Indian software company Tech Mahindra Ltd., the Economic Times newspaper reported Tuesday, citing two people familiar with the talks.
The British company has attracted interest from private equity firms Providence Equity Partners, Apax Partners and Goldman Sachs Private Equity Group, the report cited the people as saying.
A potential deal for BT's stake in Tech Mahindra would also involve the telecom company's stake in Satyam Computer Services Ltd., the report said, adding that BT was waiting for a clearer picture on the fraud-hit company's financials before proceeding with the stake sale process.
Tech Mahindra is a joint venture between BT Group and Mahindra & Mahindra Ltd., India's biggest utility vehicle and tractor maker by sales.
Source: Total Tele