Spice Group may withdraw from Satyam bidding

Spice Group on Wednesday alleged that there was no openness and transparency in the bidding for Satyam Computer and said it would soon
decide on whether to go ahead with the bidding process.

“We feel there is no openness and transparency. The Satyam board is now talking about another short listing of bidders. We do not even know who are the bidders in the first short-listing,” Spice Group chairman B K Modi said.

“Our board will meet shortly to take a call on whether to go ahead or not,” Modi said, adding that the Spice Group was not satisfied with these kinds of developments. The board will take a call on this issue within a day.

He added that the Spice board will take a full view of the situation in the wake of the new shortlisting terms and conditions and other related problems that may crop up when the company goes ahead with the bidding process.

Along with Spice, Larsen and Toubro and Tech Mahindra are among the other shortlisted bidders for Satyam.


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