Satyam bid norms soon: Govt

Bidding guidelines for inviting a strategic investor in Satyam Computer Services Ltd are expected to be ready in 10-15 days, Corporate Affairs Minister Prem Chand Gupta has said. “It would be a transparent process,” said Gupta. The Satyam board was in touch with the financial consultants and would take a decision soon, he added.

The government-appointed board of scam-hit Satyam plans to bring a strategic investor into the company to restore the confidence of its stakeholders, which include 53,000 employees and more than 600 customers. The board of Satyam is being advised by Goldman Sachs and Indian investment bank Avendus Advisors in its search for a strategic investor.