British Telecom is mulling on a scheme to sell its stake in Tech Mahindra. According to sources BT considers its investment in Tech Mahindra does not fit in long term goal of the company. Currently, BT holds 31 percent stake in India's software services company Tech Mahindra. Earlier, there were reports about lack of transparency on Tech Mahindra behalf on deal structures and disclosure norms.

 

So far, BT has been the biggest client for Tech Mahindra, the information technology unit of Mahindra & Mahindra. Also, it contributes over 60 per cent of the revenue. Another major client of Tech Mahindra is AT&T, which contributes for around 16-17 per cent revenue.

 

According to NASSCOM, Tech Mahindra has grown rapidly to become the 6th largest software exporter in India. Some major partners in its growth story are Convergys, Siebel, LHS, Azure, Openet Telecom, jNetX Industry Consortia, OSS/J, TeleManagement Forum, Microsoft, Oracle, IBM, BEA, and Celona.