Satyam Buyer Does Not Get Enough Shares in Public Offer

Tech Mahindra may have to ask Satyam Computer Services for a preferential issues of shares to continue its bid to take over the troubled outsourcer.

By John Ribeiro

PAGE 2

Tech Mahindra has not decided whether to acquire more shares to hike its stake to 51 percent, 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board, who were appointed in January after the crisis broke, continue in place by government order, though they may be withdrawn by the government this week, according to sources.

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