NTT Is Said to Weigh Sale of Controlling Stake in Nihilent

NTT Ltd. is considering a sale of its controlling stake in consulting and IT services firm Nihilent Ltd., according to people familiar with the matter.

The unit of Japanese telecommunication giant NTT Corp. is working with an adviser to find a buyer for its holdings of about 69.2% in the Pune, India-based company, the people said. NTT is seeking a valuation of about 25 billion rupees ($314 million) for Nihilent, one of the people said.

NTT holds Nihilent’s stake through its investment firm Hatch Investments Mauritius Ltd., according to filings.

Considerations are at early stage and NTT could decide ...