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India's L&T buys controlling stake in Mindtree

BENGALURU, July 3 (Reuters) - Mindtree Ltd said on Wednesday that conglomerate Larsen & Toubro Ltd has acquired a 60.06% stake in the Indian IT services company.

L&T will be categorised as a promoter in Mindtree, the company added.

The report comes within months of Mindtree rejecting a hostile takeover bid from L&T, saying that the plan was of no value for the company or its shareholders. (Reporting by Chandini Monnappa in Bengaluru, Editing by Sherry Jacob-Phillips)

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