Blackstone in talks to buy minority stake in India's Sify Technologies

Photo: Bloomberg

Blackstone Group Inc. is in exclusive talks to acquire a minority stake in India’s Sify Technologies Ltd., according to people with knowledge of the matter.

The communications infrastructure firm has sought a valuation of around $1 billion to $1.2 billion in a transaction, said the people, who asked not to be identified because the talks are private. It’s unclear what valuation the Blackstone stake purchase will be struck at and talks could still fall apart.

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