Equity groups eye BT's Indian outsourcing stake

Private equity firms including Kohlberg Kravis Roberts & Co are eyeing BT Group's 31% stake in Indian software services firm Tech Mahindra.

A Reuters report, quoting local paper Economic Times, also said BT has put a price tag of more than €567.5 million (US$800 million) on its stake valuing Tech Mahindra, 44.25% owned by India's top utility vehicle maker Mahindra & Mahindra, at nearly €2.12 billion (US$3 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 be immediately reached for comment.

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