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Satyam buyer does not get enough shares in public offer

John Ribeiro | July 3, 2009
Tech Mahindra may have to ask Satyam for a preferential issue of equity

Tech Mahindra has not decided whether to acquire more shares to hike its stake to 51 per cent, the company spokesman said.

Tech Mahindra consolidated its control over Satyam last month, by adopting a Mahindra Satyam go-to-market brand for the company, and appointing Mahindra Group executives to the CEO, CFO, and executive vice chairman positions.

The government's six nominees to the board, who were appointed in January after the crisis broke, continue in place by government order, though they may be withdrawn by the government this week, according to sources.

 

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