Satyam Shoots 31% on iGate’s part stake news
Satyam stock that has been experiencing very bad time since last few days has finally galloped 31% reaching Rs. 38.85 on news of iGate eyeing for part stake in Satyam. Reports of software firm iGate interested in acquiring parts of fraud hit IT firm whose board has been approached by domestic and foreign companies for a possible merger or sale, buoyed the counter. iGate is interested in a dialogue with Satyam and currently are quiet keen and comfortable to acquire selective portions of the business, reports quoting iGate’s CEO Phaneesh Murthy revealed.
Meanwhile, other set of reports indicated Sataym is looking at roping in a strategic investor. Goldman Sachs has emerged as the front-runner in the race for an investment banker for Satyam Computer as the new board gears Satyam office up to rope in a strategic investor to value and script a revival strategy for the beleaguered software firm.
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