3. Barclays reinvests in intelent,picks 12.75% UK based Barclays bank plc has acquired a 12.75% equity stake in back office provider intelenet Global services. The intelenet was 50:50 joint venture between HDFC and barclays. The deal gave blackstone an 80% stake in the firm and the intelenet management 20%. Intelenet’s revenues are at around $240 million now campared to $90 millon .
4. The investment has been made through SKR BPO services,which is holding company of intelent. Barclays, even after exiting intelent as a stakeholder in 2007. They setting up its own captive. Barclays contribution has come down but it still is intelent’s top customer.
5. British Telecom in talks to sell Tech Mahindra stake Uk telecom major, British telecom,one of the original promoters of tech Mahindra. The restating of the financials of mahindrasatyam clears the way for a stake sale. BT was waiting for a clear picture to emerge on the financials before proceding with the sale process.
6. BT is said to be expecting a 30% premium over the current market price for its stake. It is already the single largest stakeholder with over 43% stake.
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