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Tech major should take over Satyam: Minister
March 04, 2009 18:01 IST
In the midst of the government-appointed Satyam [Get Quote] board finalising the bidding norms for strategic sale, Corporate Affairs Minister P C Gupta on Wednesday said preference should be given to a good technology company or a reputed industrial house to take over the IT company.
"It would be better if we have some sort of preference for good tech or good industrial house for taking over the company. We should give some weightage (to them)," Gupta told private television channel CNBC TV18.
He said the suitors for Satyam are in constant touch with the Satyam board and the board is also getting suggestions on the bidding process and the guidelines would be finalised soon.
On Tuesday, the minister had said the much-awaited bidding guidelines by Satyam Computer for inducting a strategic investor will be finalised in the next 10-15 days.
The scam-hit company is being run by the government- appointed board.
A prospective bidder has said sooner the company is able to finalize the process the better it is for its viability. If the bidding norms take another 10-15 days to be finalised and then the approvals are sought, then Satyam would be able to invite bids only by the month-end, it added.