MphasiS chairman to sell 1.9 m shares to EDS

MUMBAI - MphasiS BFL Ltd.'s Chairman and Managing Director Jaithirth Rao has

offered to sell 1.9 million shares to U.S.-based Electronic Data Systems Corp.,

the Indian company said on Friday.

With his offer, Rao would reduce his stake in MphasiS to about 2.8 per cent

from the current 3.97 per cent, BSE data showed.

MphasiS' board had in April backed a $380-million open offer by EDS for 52

per cent stake in the Indian software outsourcing company.

EDS had offered to buy 83 million shares at 204.5 rupees each.