Bangalore: Diversified Hinduja Group has decided not to bid for a stake in fraud-hit Satyam Computer Services Ltd, its chief financial officer said.
“We have decided that we will not participate in Satyam bidding,” Prabal Banerjee told Reuters. He declined to give any any reason for opting out. The group had earlier expressed an interest to acquire Satyam.
Registrations for potential bidders for Satyam close on Thursday evening, kicking off a process to sell a majority stake in the company caught in the country’s biggest corporate scandal.