Monday, April 13, 2009

Tech Mahindra wins bid for Satyam at Rs58/share

Posted by Steve Benn at 12:30 AM

Tech Mahindra won the bid for Satyam Computer Services Ltd o Monday. The company snared in India’s biggest corporate scandal, announced the winning bidder for a controlling stake at Rs58/share.

The government-appointed board started a meeting at 9:00am in Mumbai to unveil the buyer for a 51% stake in the outsourcing company.
Indian engineering and construction firm Larsen and Toubro, which owns 12% stake in Satyam was also in the race and had bid at Rs49.50/share.

 

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