June 9, 2017 / 5:02 AM / a year ago

India's Infosys denies promoters selling stake in company

MUMBAI, June 9 (Reuters) - Infosys Ltd on Friday denied a media report that the founders of India’s second-biggest software services exporter were looking to sell their entire 12.75 percent stake in the company.

The Times of India newspaper on Friday had reported the Infosys founders were exploring such a sale, citing people familiar with the developments, although it carried a denial of such a move by one of the firm’s founders, Narayana Murthy.

Infosys “has no information on any such development,” the company said in a statement, adding that the “speculation has already been categorically denied by the promoters.”

Earlier this year, Infosys’ founders had expressed concerns about the manner in which the company was being run by its current management and board. (Reporting by Sankalp Phartiyal; Editing by Rafael Nam)

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