Tech Mahindra Ltd acquired 51 per cent stake on a fully diluted basis in Comviva Technologies Ltd for Rs 260 crore on Sept. 17, 2012.
Comviva Technologies is a Bharti Group company providing mobile value-added services.
The deal will be subject to regulatory approvals. The new brand identity will be Mahindra Comviva.
The current promoters will continue to hold a 20 per cent stake on a fully diluted basis in Comviva, post the deal closure.
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Monday, September 17, 2012
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