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Softbank arm, UK firm buy 33% of Sify

An affiliate of Japanese Internet investor Softbank Corp and UK's VentureTech are buying a 33 per cent stake for $20 million in leading Internet services provider Satyam Infoway, its parent said.

"We have approved the stake sale in our board meeting today," V Srinivas, chief financial officer of Satyam Computer Services, told Reuters on Friday from Hyderabad.

Satyam Computer Services, India's No 4 software exporter, has said over the past year that it planned to sell all or part of its 52.5 per cent stake in the loss-making Internet firm, but had not given a timeframe.

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