Tech Mahindra subsidiary sells stake in Altiostar to Rakuten for $45 mn

Tech Mahindra said that its subsidiary has divested over 18.5 million shares in Delaware-based Altiostar Networks to Rakuten Mobile for $45 million. Tech Mahindra and Rakuten signed an agreement under which the Indian tech firm will be a preferred partner and will provide managed IT to Rakuten. Tech Mahindra acquired 17.5% stake in Altiostar Networks for $15 million in 2018.