Satyam Board meets to discuss 'pricing guides'

Posted By: Staff
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Bangalore, Feb 26: Satyam Computers Board of Directors has begun with its meeting on Thursday, Feb 26 to decide on the pricing guidelines for preferential share issue to the strategic partner for fraud-hit Satyam.

Analysts say that it is difficult to tag a price for the company in the absence of audited accounts and clarity about its liabilities, even though there are many potential bidders attracted towards Satyam for its marquee clients, business model and a trained workforce.

Satyam Chairman Kiran Karnik on Tuesday, Feb 24 said that Satyam, which specialises in business software, hoped to invite expressions of interest from potential bidders by the end of the week.

The Economic Times report said on Thursday, Feb 26 that the board was likely to insist on experience in the information technology sector and minimum net worth for potential bidders, quoting a person familiar with the situation.

A spokeswoman for Satyam said the company would issue a statement after the board meeting, which is likely to end in the afternoon.

OneIndia News

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