Satyam might announce their new owner on April 13

Satyam might announce their new owner on April 13

Satyam is looking for a new parent and they might make an announcement this coming April 13.

The company board has extended the deadline to submit technical and financial bids to April 13 from April 9.

The bidders had sought more time to go through the company’s financial records to make a decision.

An inside spoke about the new developments: “Additional data on Satyam’s top-line and customer information updated up to February-end is being made available to the bidders through the virtual data rooms. Since the Satyam incident unfolded in December and January, bidders were keen on status of top-line, new projects and cancellations updated up to February-end. They sought more time to assimilate the information and finalise their proposal to acquire the controlling stake.”