IGate files formal expression of interest in Satyam

IGate files formal expression of interest in Satyam
PTI
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First Published: Fri, Mar 13 2009. 06 34 AM IST
Updated: Fri, Mar 13 2009. 02 42 PM IST
Bangalore: iGate, a NASDAQ-listed integrated technology and operations company, today announced filing a formal expression of interest for bidding for Satyam Computer Services.
“iGate is expecting to receive from Satyam the latest financial statements, including those for the quarter ended December 2008 and the months of January and February 2009.
“It also has to get the updated position on liabilities and potential liabilities of the company,” iGate said in a statement late night yesterday from California.
In the event of iGate not receiving this information immediately, it has no option but to withdraw its expression of interest, it said.
Satyam yesterday closed registrations for potential bidders as it began a process to sell 51% stake in the company, which is caught in the country’s biggest corporate scandal.
The Satyam board is meeting today to discuss the expressions of interest submitted by bidders, which includes one of its shareholders Larsen & Toubro, software firm Tech Mahindra and B K Modi’s Spice Corp.
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First Published: Fri, Mar 13 2009. 06 34 AM IST