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Tech Mahindra Buys 31% of Satyam
Updated from 1:52 a.m. EDT
By Erika Kinetz
MUMBAI, India -- Indian telecommunications firm Tech Mahindra has bought a controlling stake in Satyam Computer Services(SAY Quote), the outsourcing giant nearly brought down in a $1 billion fraud.
Tech Mahindra purchased 31% of Satyam for $351 million, the highest bid submitted before the Monday morning deadline. It will also make an offer on the open market to buy an additional 20% of Satyam. ...
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