Tech Mah's selection a new stage for Satyam: Kiran Karnik

HYDERABAD: Tech Mahindra, the new owner of Satyam Computer Services, was selected in a fair, open and transparent process, said Kiran Karnik, chairman of the government appointed board of Satyam Computer Services.

"Its (Tech Mahindra) selection signals a new stage for Satyam in its progress towards stabilization and growth. We hope this will infuse greater confidence and comfort amongst customers, who continue to be happy with Satyam's excellent service delivery. This event ought to dispel the anxiety of all stakeholders as it re-positions the Company���s commitment to revival and good governance.��� said Kiran.

Tech Mahindra will pay Rs 58 per share to buy a 31% stake in Satyam through a preferential allotment. Another 20% of the shares will be tendered in an open offer.