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On Sunday, Satyam Computer Services Ltd. was re-branded as Mahindra Satyam after Tech Mahindra Ltd. emerged as the highest bidder in a global auction for a controlling stake in the fraud-hit Indian IT outsourcer.Earlier this year, Satyam chairman and founder Ramalinga Raju admitted that Satyam's balance sheet was inflated by...
Posted on June 23, 2009 1:01 PM
Tech Mahindra Ltd. emerged as the highest bidder for fraud-hit Indian IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY). Tech Mahindra, which is jointly owned by Mahindra & Mahindra Ltd. and British Telecommunications plc, will buy a 31% stake in Satyam for $351 million.The offer of 58 rupees ($1.17) per share...
Posted on April 13, 2009 9:55 AM
About 13,000 workers have abandoned fraud-hit IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY) to join clients and other rivals, according to one report. And it looks like 250 to 300 of them are getting signing bonuses and salary increases as they join Bank of America Corp. (NYSE:BAC).The Business Standard...
Posted on April 2, 2009 11:44 AM
One potential suitor for fraud-hit IT outsourcer Satyam Computer Services Ltd. (NYSE:SAY) has left the playing field. India's Spice Group Inc. claimed there was a lack of transparency in the bidding process; it wanted to know who else was bidding for Satyam. Spice will reconsider the decision, however, if its...
Posted on March 27, 2009 3:12 PM
The Securities and Exchange Board of India, which recently eased takeover regulations, approved a majority sale of Satyam Computer Services Ltd. (NYSE:SAY), the subject of India's greatest corporate scandal. Buying into the IT outsourcer is tricky.On one hand you have an otherwise attractive company that had its $7 billion valuation...
Posted on March 6, 2009 9:04 AM
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Juergen Lasowski
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