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Tech Mahindra subsidiary sells stake in Altiostar to Rakuten for $45 mn
short by Kiran Khatri / on Wednesday, 23 September, 2020
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.
read more at Deccan Herald