Mindtree Ltd, of which its majority stake was recently acquired by Larsen and Toubro Ltd will continue to run and operate at an arm’s distance completely as a separate entity. This announcement came from the multinational conglomerate company Larsen and Toubro’s CEO.
The Chief Executive Officer (CEO) and Managing Director (MD) SN Subrahmanyan said that there is no comflict between Mindtree and Larsen and Toubro Infotech Ltd. as “they operate in vastly different areas with a minimum client overlap.”
In an email Subrahmanyan said, “Mindtree Ltd. will be run as a separate entity, distinct from L&T Infotech and L&T Technology Services. The entities would run at an arm’s length. It is inappropriate to speculate about the future structure now.”
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However, the development saw Mindtree shares falling 10.43 percent on Monday to close at Rs 773.95 apiece on the BSE.