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Tech Mahindra to boost Satyam stake further

India's Tech Mahindra said on Monday it would still look to boost its stake in Mahindra Satyam through a purchase of new shares direct from Satyam, after a public offer received a poor response.
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Satyam to put 7,000-10,000 staff on virtual pool

India's Satyam Computer Services said on Thursday it plans to put about 7,000 to 10,000 staff on virtual pool as part of the fraud-hit outsourcing firm's strategy to manage excess staff and cut costs.
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Tech Mahindra revises Satyam open offer

Tech Mahindra revises Satyam open offer India’s Tech Mihandra, which has 31 percent stake of fraud-hit Satyam Computer Services Ltd on Friday said its Rs. 1,154 billion or $231 million additional open offer of a 20 percent stake to its shareholders approach will be move on June 9 from the earlier schedule of June 3. However, Dates for all other activities of the schedule remain unchanged, the filing said.
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Satyam to repay 3 bln rupees loan, job cuts

Share India’s Satyam Computer Services Ltd fell on Thursday after Tech Mihandra said it will repay its 3 billion rupee loan or $64 million in net proceeds, which had raised from state-run bank in February.
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Satyam's revenue in downward slope: chairman

Revenues of India's Satyam Computer Services are in a downward slope, but the fraud-hit outsourcer was not looking at layoffs to tide over the slowdown, its chairman said on Friday. The company discussed cost control measures, including wage cuts, at its board meeting, Kiran Karnik told reporters after the meeting.
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Tech Mahindra wins Satyam bid

Tech Mahindra, an Indian telecommunications outsourcing firm won a bid to buy Satyam Computer Services for $351 million.
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Tech Mahindra wins bid to acquire Satyam

India's Tech Mahindra will pay more than $550 million for a controlling stake in Satyam Computer Services , throwing a lifeline to the fraud-hit firm and propelling itself into the top tier of Indian outsourcing firms.
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Tech Mahindra wins bid for Satyam

India's Tech Mahindra won a bidding auction for fraud-hit Satyam Computer Services on Monday, in a deal that could lift the mid-sized outsourcer into the top tier of local software services firms.
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Satyam to name winning bidder

Satyam Computer Services Ltd , the company snared in India's biggest corporate scandal, is set to announce a winning bidder for a controlling stake, and its shares jumped to a two-month high in anticipation on Monday.
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Satyam used $60 mln bank funds in Jan-March -paper

Fraud-hit Satyam Computer Services Ltd has used 3 billion rupees ($60 million) of the 6.85 billion bank funds that it has arranged, The Economic Times said on Saturday citing documents from a highly placed source in the company.
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IBM not bidding for Satyam; Spice Group undecided

Satyam Computer Services Ltd's search for a buyer suffered a setback on Thursday, as a source said IBM is not in the bidding, while India's Spice Group remains undecided about its participation.
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IBM among 8 shortlisted for Satyam bidding: report

The board of Satyam Computer Services has shortlisted about eight bidders, including IBM and private equity firm Apax Partners, for buying the fraud-hit outsourcer, the Economic Times said on Thursday.
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Spice says may withdraw from Satyam bid process

Spice Group, a suitor for Satyam Computer Services , may withdraw from the race to buy the fraud-hit Indian outsourcing firm due to a lack of desired transparency in the bidding process, its chairman said on Wednesday.
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Satyam board meets as bid interest deadline nears

The board of Satyam Computer Services Ltd began a meeting on Friday as the deadline neared for suitors to submit their expressions of interest in acquiring a majority stake in the fraud-hit Indian outsourcer.


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