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Who will finally buy Satyam?

February 25, 2009

Spice Group

The Spice Group, too, has expressed interest to invest around Rs 2,000 crore (Rs 20 billion) in Satyam, and wants to buy a 51 per cent stake.

B K Modi, chairman of Spice Group, told Business Standard that his company "is close to appointing a consultant to advise on the bid".

He said he believed that Satyam had only 43,000 employees, adding that if he won the bid, he "will change the brand name of Satyam".

The new name, however, might still start with an 'S'.

Modi estimates the liability from the 13 class actions suits would range between $440-840 million (around Rs 2,200-4,200 crore) but adds that "I will contest these suits".

Image: Mobile phones, B K Modi, chairman of Spice Group (inset).

Also read: Indian billionaires: Biggest losers & gainers

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