Mumbai | Reuters – Private equity firms including Kohlberg Kravis Roberts & Co (KKR) are eyeing BT’s 31% stake in Indian software services firm Tech Mahindra, the Economic Times said, citing unidentified sources.
BT has put a price tag of more than $800 million on its stake, valuing Tech Mahindra, 44.25% owned by India’s top utility vehicle maker Mahindra & Mahindra, at nearly $3 billion, the newspaper said today.
Tech Mahindra’s current market value is $2.1 billion.
KKR is preparing a potential bid while UK-based Apax Partners, America’s Texas Pacific Group and Carlyle and Singapore’s Temasek have also evinced interest, the paper said.
Tech Mahindra officials could not immediately be reached for comment.
