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NTT Weighs Sale of Controlling Stake in Nihilent

  • Japanese telco is seeking about $314 million in stake sale
  • NTT owns about 69.2% holdings in Pune-based Nihilent

NTT Ltd. is considering a sale of its controlling stake in consulting and IT services firm Nihilent Ltd., according to people familiar with the matter.

The unit of Japanese telecommunication giant NTT Corp. is working with an adviser to find a buyer for its holdings of about 69.2% in the Pune, India-based company, the people said. NTT is seeking a valuation of about 25 billion rupees ($314 million) for Nihilent, one of the people said.