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Spice joins race to buyout Satyam
Spice has put in an expression of interest to acquire Satyam, reports CNBC-TV18, quoting sources. L&T has infact expressed interest formally. It has also opted to take management control. Essay's BPO business also wishes to acquire some parts of Satyam’s related businesses.
Here is a verbatim transcript of Siddharth Zarabi's comments on CNBC-TV18. Also watch the accompanying video.
The first hint that there was a new company that is pitching for Satyam came in late evening yesterday but the name at that point of time was not confirmed; subsequently we picked up from Spice sources that they have put in an expression of interest. However, at that stage they did not name Satyam but I have now learned that this is indeed the case and this would mean that there are at least three known bidders to have come out.
We know about L&T and it has infact expressed interest formally, it has also opted to take management control. We know about Essay, their BPO business wanting to acquire some parts of Satyam's related businesses and now Spice Corp which essentially is a telecom and services company. The exact contours are not known but it is clear that this expression of interest would have to be made to the board and at the same time to the government because Satyam is a government administered company.
The dynamics of the acquisition are something that we will try and find out but at this point of time it is clear that there is a third bidder in the race.
