Telecom Lead India: Sify Technologies has sold its entire
stake in MF Global Sify Securities India for Rs 139 crore ($25 million) in
cash.
Sify, a provider of managed enterprise, network and ICT
services in India, received necessary regulatory and statutory no objection
approvals for change in control.
According to an agreement entered with MF Global Sify
Securities India, MF Global Overseas and PhillipCapital Group, the Singapore
based financial services company, through its related companies, will buy a
majority stake in MF Global Sify Securities India.
Recently, Sify said a significant portion of its revenue is
derived from corporate enterprise services, which include network and IT
services, connectivity, security, network management services, enterprise
applications, hosting and remote infrastructure management services.
editor@telecomlead.com
