Scam-tainted Satyam Computer Services informed the bourses on Thursday that Lazard Asset Management LLC has sold 35.74 million shares, accounting for 5.3 per cent equity of the company. The shares belonging to the clients of the asset management company were sold in the open market on January 15.
Incidentally, following Satyam founder Ramalinga Raju’s confessions to accounting fraud on January 7, Lazard had acquired 3.4 million shares of Satyam. On the other hand, other major foreign investors Aberdeen and Swiss Finance Corporation sold their entire shareholding in the company.
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