Ramalinga Raju rules out parting Satyam with MNCs

Bangalore, Aug 4: Satyam Computer Services Limited Founder Chairman B Ramalinga Raju today vehemently ruled out parting financial stake in his company with a global firm.

Addressing newspersons here, he denied reports that he had plans to exit from the company, saying ''We have categorically stated that we have no plans to off load financial stakes to global companies.'' He said ''We do not believe it is a value proposition to our existing investors. We believe that the opportunity for growth is significant and the future is bright for IT in the country.'' Mr Raju, who had quit along with few other top executives from Sify, fuelling rumours of his exit from Satyam computers, said ''It neither happened in the past nor will happen in future.'' To a question, he said there was no need for tapping external resources for further expansion. ''We have a strong balance sheet and there is no requirement for external finance,'' he added.

UNI