Tech Mahindra Sell 100% Stake In LCC Pakistan

Tech Mahindra announced that its step down subsidiary LCC Middle East FZ LLC has agreed to sell its 100% shareholding in LCC Pakistan Pvt Ltd to Talkpool AG, Switzerland, on Wednesday. The expected date of completion is by 31 October 2017, with a total consideration of USD 5.2 million.

The Switzerland-based entity, Talkpool AG delivers a range of network design, engineering, implementation and managed services designs.

Shares of Tech Mahindra on the NSE was trading at Rs 394 per share higher by Rs 0.8 per share or 0.22%. It has delivered negative returns of 26% in a period of one year and has underperformed the BSE Sensex and BSE IT indices over the same time span.

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