Tech Mahindra says interested in Satyam

Tech Mahindra Ltd said on Thursday it had registered interest to participate in the bidding process for troubled outsourcer Satyam Computer Services Ltd.

It will evaluate the next step based on information received from Satyam, Tech Mahindra said in a statement.

Satyam closes registrations for potential bidders on Thursday, kicking off a process to sell a majority stake in the company caught in the country’s biggest corporate scandal.

Some firms are likely to put in expressions of interest, attracted by Satyam’s strong client base and its large workforce, but final bids will depend on clarity on Satyam’s finances and legal liabilities.

Satyam’s government-appointed board is keen to bring in an investor to restore confidence among its roughly 50,000-strong staff and more than 600 customers, which include General Electric and Qantas Airways.


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