Satyam rules out part-sale; names mgt adviser, invst bankers

Hyderabad: Satyam Computer today ruled out selling portions of the company's business, even as it appointed a management adviser and two investment bankers to show the way forward for the beleaguered IT company.

"A sale of parts of Satyam at this stage would be contrary to the mandate of regulating the affairs of Satyam as a going concern as stipulated by the Government. It is therefore not an option evaluated by the company," said T N Manoharan, who chaired Satyam's board meeting today.