L&T has no plans for tie-up with PE for Satyam

MUMBAI: Larsen & Toubro on Tuesday said it has no plans to rope in a private equity partner to jointly bid scam-hit Satyam Computers.

"We are not in discussion with private equity firms to jointly bid for Satyam. This is purely speculative," L&T's Director (Finance) Y M Deosthalee said.

He was responding to reports that the engineering major was in talks with Blackstone, the Carlyle Group, Goldman Sachs and Temasek among others to jointly bid for Satyam.

Earlier the company had said it had enough cash, about Rs 4,000 crore, to go for Satyam acquisition.

L&T, which submitted its expression of interest on March 12 for Satyam Computers buy, is the single largest stakeholder in the Hyderabad-based firm.