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Tech Mahindra is a top IT services firm in India

BRITISH telecoms group BT said on Thursday (August 30) that it has completed the sale of a 14.1-per cent stake in Indian IT group Tech Mahindra to institutional investors for £158.6m ($249.89m).

The London-listed company added in a statement that the divestment, worth the equivalent of $252m (£159.32m), will reduce its overall shareholding to 9.1 per cent.

“Further sales may be considered in the future,” added BT, noting that Tech Mahindra would remain a key supplier.

BT and Indian vehicle and farm equipment manufacturer Mahindra & Mahindra founded Tech Mahindra in 1986.

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