BT is considering the sale of its 31% stake in Tech Mahindra

FT reports BT is considering the sale of its 31% stake in Tech Mahindra, the India-listed software services co, having decided that the holding does not fit its long-term strategy. The UK telecoms company is keen to sell all or a large part of its stake in the joint venture, which has a market capitalization of about $2.2 bln, according to people with knowledge of the situation. Any sale is expected to be one of the biggest in the Indian outsourcing sector and will generate interest from domestic and overseas private equity firms, which are struggling to deploy funds in India. "Global private equity firms are itching to write a cheque in India for a few hundred million [dollars], and this would represent a major opportunity for them,"