HIGHLIGHTS - Tech Mahindra executives on Satyam bid
MUMBAI (Reuters) - Indian mid-sized outsourcer Tech Mahindra was the highest bidder for a controlling stake in Satyam Computer Services Ltd., the government-appointed board of the fraud-hit company said on Monday.
Subsequent to approval by India's Company Law Board and payment of required funds, Tech Mahindra will buy a 31 percent stake via a preferential allotment of new shares, and then make an open offer for a further 20 percent of shares.
Following are comments made by Tech Mahindra board members at a media conference on Monday.
ANAND MAHINDRA, CHAIRMAN:
"This is a historic and game-changing day for Tech Mahindra. We are the highest bidders, we are not yet the winning bidders until the Company Law Board has confirmed that."
"To all our customers, I would like to say we will give our highest priority to restoring your confidence and earning your faith in the future of Satyam. I plan to reach out at the appropriate time to some of Satyam's largest customers at Cisco, Citibank, and General Motors."
"Once we are confirmed bidders, our first task will be to build it once again into the great institution that it was. I am confident Satyam comes with many positives."
"We have taken on a challenge. We will make it work." Continued...
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