iGATE joins fray to buy majority stake in Satyam
Nasdaq-listed IT and outsourcing solutions major iGATE on Friday announced its interest in acquiring a 51-percent stake in scam-hit Indian firm Satyam Computer Services by registering for a global auction.
This brings up to four the number of firms interested in buying a majority stake in Satyam, whose founder Ramalinga Raju confessed to Rs 7,000-crore fraud in January.
“We are now expecting to receive from Satyam the latest financial statements, including those for the quarter ended December 2008 and the months of January and February 2009, and updated position on liabilities and potential liabilities of the company,” said iGATE in a press statement.
This article was originally posted on IBNLive.com