Mum on future moves, Tech Mahindra says not in race for Satyam
Satyam Board has made it clear that the firm would not be sold in parts, eliminating BPO cos from the race to buy Satyam's BPO biz. Funnier side of Satyam saga!
By PTI |
MUMBAI: Mahindra & Mahindra Group company Tech Mahindra on Monday said it has not made any bid for taking over the beleaguered IT firm Satyam Computer.
"We have made no bid," Tech Mahindra's Vice Chairman and Managing Director Vineet Nayyar told reporters here.
However, he remained tight-lipped when asked whether the company would bid for the fraud-hit firm in coming days.
Earlier, a source had said that Satyam's Government -appointed Board had received six-seven Expressions of Interest (EoIs) from domestic and international players intending to buy out the Hyderabad-based firm.
The source, however, did not reveal the names of the companies that submitted EoIs, but the buzz was these could be engineering major Larsen & Toubro, M&M, Hindujas and Spice, among others.
US-firm iGate withdrew from the race recently. The Satyam Board has made it clear that the company would not be sold in parts, thereby eliminating outsourcing firms from the race to buy Satyam's BPO business.
M&M's Vice Chairman and Managing Director Anand Mahindra had earlier said that the company was watching the "situation with interest" and "if there is anything of strategic value, clearly we will be looking at it".
"We have made no bid," Tech Mahindra's Vice Chairman and Managing Director Vineet Nayyar told reporters here.
However, he remained tight-lipped when asked whether the company would bid for the fraud-hit firm in coming days.
Earlier, a source had said that Satyam's Government -appointed Board had received six-seven Expressions of Interest (EoIs) from domestic and international players intending to buy out the Hyderabad-based firm.
The source, however, did not reveal the names of the companies that submitted EoIs, but the buzz was these could be engineering major Larsen & Toubro, M&M, Hindujas and Spice, among others.
US-firm iGate withdrew from the race recently. The Satyam Board has made it clear that the company would not be sold in parts, thereby eliminating outsourcing firms from the race to buy Satyam's BPO business.
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M&M's Vice Chairman and Managing Director Anand Mahindra had earlier said that the company was watching the "situation with interest" and "if there is anything of strategic value, clearly we will be looking at it".
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