Larsen and Tourbo (L&T), the largest single shareholder in Satyam Computer, today said it would wait for details of the bidding process and available financial figures before taking any decision on bidding.
"The statement of Satyam today is elementary. We will have to study the documents and then decide what to do next. We have to know how they (Satyam) are going to evaluate the company...
"One just cannot go by the lowest price, one will have to see what is the benefit in it for the shareholders," L&T Chairman A M Naik told PTI on phone.
L&T recently hiked its holding in Sataym to 12 per cent by acquiring close to 8 per cent stake through open market.
Sebi today approved the bidding process of Satyam Computer enabling the Hyderabad-based company to sell 51 per cent stake -- 31 through preferential route and 20 per cent via open offer.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app