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Satyam ADR plummets 55% on Maytas deal

BS Reporter  |  Mumbai 

The Satyam ADR yesterday took a hard knock after the company announced its $1.6 bn Maytas acquisiton.

Despite a strong surge on the Wall Street, and other ADRs gaining significantly, the Satyam ADR plummeted 54.5% to $5.70 yesteday.

Earlier, the company's board approved to buy 51% in Maytas Infra and buy out of Maytas Properties in a $1.6 billion deal.

First Published: Tue, December 16 2008. 23:15 IST