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Company BT Group PLC
TIDM BT.A
Headline

BT COMPLETES SALE OF REMAINING TECH MAHINDRA STAKE

Released 09:06 12-Dec-2012
Number 3392T09

RNS Number : 3392T
BT Group PLC
12 December 2012
 



December 12, 2012

 

BT COMPLETES SALE OF REMAINING 9.1% STAKE IN TECH MAHINDRA

 

BT announces that it has today completed the sale of its remaining 9.1% shareholding (11.6m shares) in Tech Mahindra Ltd. (Tech Mahindra) to institutional investors for total gross cash proceeds of INR 10,114 million (£115.7 million†) at INR 871.00 per share.  

The financial impact of the disposal is expected to be treated as an income statement specific item in BT's next financial results.

 

Tech Mahindra remains a key supplier to BT.

 

†Based on INR: Pound sterling exchange rate of 87.42:1.00

 

About BT

BT is one of the world's leading providers of communications services and solutions, serving customers in more than 170 countries.  Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband and internet products and services and converged fixed/mobile products and services.  BT consists principally of four lines of business: BT Global Services, BT Retail, BT Wholesale and Openreach.

In the year ended 31 March 2012, BT Group's revenue was £18,897m with profit before taxation of £2,445m.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group.  BT Group plc is listed on stock exchanges in London and New York. 

For more information, visit www.btplc.com

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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BT COMPLETES SALE OF REMAINING TECH MAHINDRA STAKE - RNS