Tech Mahindra registers interest in Satyam bidding processBy IANS
Thursday, March 12, 2009
MUMBAI - IT services major Tech Mahindra has registered its interest in bidding for 51 percent stake in scam-hit Satyam Computers, it was announced Thursday.
‘In line with the process set out by the board of Satyam Computer Services, Tech Mahindra, on March 12, 2009, registered its interest in participating in the bidding process. Once the company has received the RFP (request for proposal) and other information it will evaluate and conclude next steps,’ Tech Mahindra said in a regulatory statement.
The Mahindra and Mahindra group’s IT firm is reportedly also in discussions to acquire Bangalore-based telecom solutions player Sloka Telecom for Rs.300-350 million (Rs.30-35 crore), but there is no agreement on a final transaction.
Sloka is a telecom network solutions provider that develops technologies for new telecommunication standards like fixed WiMax, Mobile WiMax and 3G.
Satyam had Monday invited registrations to start the process to sell 51-percent majority stake in the company by way of a global auction after India’s market regulator gave it the go-ahead last week to do so.
Thursday is the last day for registering interest in the bidding.
March 24, 2009: 12:53 pm
It seems Tech Mehindra is in few of those who have reached second stage of bidding… proposal reviews are happening and more will come soon.