BGN Entrepreneur

Tech Maindra, the IT group which BT holds a 31% stake, agreed to buy the disraced IT comopany—Satyam, which is at the centre of India’s biggest corporate fraud.
The sale, which is conducted by auction and rushed through by the Indian Government, values Satyam at about 670 million pounds. It will transform Tech Mahindra into an outsourcing giant employing about 75000 staff.
According to a Tech Mahindra spokesman, though it’s doubted that Satyam is open to potentially enormous legal liabilities including a class action suit from US investors, BT had been supportive to back Tech Mahindra on the acquisition.
Industry insiders are quite cuartious about the deal, taking it as a huge gamble.

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