Mumbai, Nov 11 (PTI) Engineering and construction major Larsen & Toubro is believed to be planning to sell shortly a part of its stake in Mahindra Satyam.
L&T, which was in the race to acquire erstwhile Satyam Computer Services, had increased its stake in the IT company to 12 per cent. The engineering major now holds 6.9 per cent in the IT company.
L&T had since then lost the race for Satyam to Tech Mahindra, which rebranded the scam-hit, acquired company as Mahindra Satyam.
After Mahindra Satyam''s equity base expansion post an open offer from Tech Mahindra, L&T''s holding came down from around 12 per cent to the present 6.9 per cent.
An L&T spokesperson declined to comment on the possible stake sale saying "this is market speculation".
L&T was subject to six-month lock-in period after Satyam was sold out to Tech Mahindra in April as the engineering major was privy to some confidential information. It had earlier said that it did not have any strategic interest in Mahindra Satyam. .