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How Tech Mahindra won the Satyam bid

April 13, 2009

Meanwhile, the stock market was quite energised by the takin gover of Satyam by Tech Mahindra. Tech Mahindra shares were trading 13 per cent higher at Rs 364 levels, while Satyam flared up by over 8 per cent to Rs 50.

Satyam clients and employees are likely to benefit from Tech Mahindra takeover of the company, said Arun Maira of Boston Consultants Group, on NDTV Profit. Satyam revenues are now likely to improve and this move will help the overall image of India on corporate governance, he added.

The Satyam board and government has done an excellent job and both Satyam clients and employees would be happy that the bidding process is over within three months, says Som Mittal, president of Nasscom, on CNBC TV18. The narrowing done of three qualitative bidders has been very good, he feels. Tech Mahindra has a better footprint and a lot of synergies with Satyam, he added.

Image: Ramalinga Raju, jailed chairman of Satyam Computer Services. | Photograph: PK/CC/Reuters