Advent International closes in on BT’s Tech Mahindra stake
Advent International is intensifying negotiations with BT over the UK telecom group’s stake in Tech Mahindra. BT held a 23.37% interest in the Indian IT company as of June 30 and has been looking at exit options. Based on current market prices, the stake is worth INR18.4 billion ($372 million), although BT may not divest it all at once.
Advent is currently conducting due diligence on the firm and has hired Bain & Company to advise on the deal, The Business Standard reported, citing sources familiar with the situation. BT initially appointed...
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