Bidders eye up Tech Mahindra

Bidders eye up Tech Mahindra

September 9, 2016

A number of potential bidders are eyeing up BT’s stake in its India-based telecoms software company Tech Mahindra.

Private equity firm Kohlberg Kravis Roberts & Co. (KKR) are expected to place the highest bid, although at least four other international private equity companies, including Apax Partners, Carlyle, Temasek, and Texas Pacific Group are likely to be interested.

The bidding for BT’s 31% stake in Tech Mahindra, a 22 year old joint venture between BT and Mahindra & Mahindra, will open in 10 days.

BT has priced its stake at over $800 million, giving Tech Mahindra an approximate valuation of $3 billion. The current market value of the company is $2.2 billion.

Tech Mahindra posted revenues of $934.7 million for the 2016 financial year, up 44% on year.

It employs 24,000 people in India, and BT has assured the company that current management will remain in place despite the sale.

Tim Yeo

Related Posts

Antagonism Mounting to Wireless Service on the Western Isles

Comments Off on Antagonism Mounting to Wireless Service on the Western Isles

Samsung Omnia rivals iPhone

Comments Off on Samsung Omnia rivals iPhone

North Yorkshire County Council in £42.4m broadband contract

Comments Off on North Yorkshire County Council in £42.4m broadband contract

Qualcomm wins 40 MHz UK radio spectrum

Comments Off on Qualcomm wins 40 MHz UK radio spectrum

BBC and the Cloud sign free content deal

Comments Off on BBC and the Cloud sign free content deal

Advertised broadband speeds criticised by Which?

Comments Off on Advertised broadband speeds criticised by Which?

Hatteras Networks named top ethernet provider

Comments Off on Hatteras Networks named top ethernet provider

Telent acquires Premises Networks Management

Comments Off on Telent acquires Premises Networks Management

Broadband reliability and service more important than speed

Comments Off on Broadband reliability and service more important than speed

Go-Ahead to Drop Telecom Rules in Parts of UK

Comments Off on Go-Ahead to Drop Telecom Rules in Parts of UK

European broadband infrastructure nears capacity

Comments Off on European broadband infrastructure nears capacity

Falling exchange rates hit Taiwan-based manufacturers

Comments Off on Falling exchange rates hit Taiwan-based manufacturers

Create Account



Log In Your Account