Satyam Computer Services has said it received clearance from the Seventh Division of the Federal Cartel Office of Germany for the acquisition of a controlling stake in the company by Tech Mahindra.
Satyam also announced that it received in-principle approvals from the BSE and NSE for the issuance of 30.27 crore equity shares of Rs 2 each to Venturbay Consultants Private Ltd (a Tech Mahindra arm).
After the allotment of these preferential shares, Satyam would seek the approval of the two bourses for listing and trading of the shares, a company press release said.
Source: The Hindu Businessline