iGate says Satyam bid below current market price: report
Written on March 16, 2009
U.S.-based iGate Corp’s bid for fraud-hit Satyam Computer Services will be well short of the current market price, its chief executive told a television channel on Monday.
“I mean what we have picked up in terms of the financial, I do believe our bid will be quite a bit south of the 90 cents a share, which is currently the market price of Satyam,” Phaneesh Murthy said on CNBC-TV18.
At 0514 GMT, Satyam shares were trading 0 no fax needed payday loans.2 percent lower at 45.45 rupees rupees (88 cents).
iGate is among a clutch of companies that have expressed interest in buying the Indian outsourcer that is battling for survival.
($1=51.6 rupees)
(Reporting by Narayanan Somasundaram; Editing by Ranjit Gangadharan)
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