Satyam denies reports on merger with Tech Mahindra
Satyam Computer Services Ltd on Tuesday denied reports that it may merge with software solutions provider Tech Mahindra.
The $2-billion software exporter, in order to verify the accuracy of the information reported in the media and to safeguard the interest of its investors, wrote to the stock exchanges today, "We wish to informyou that there is no truth in the news item that has appeared in themedia."
It has been widely reported that Tech Mahindra, a Mahindra & Mahindra group company, had approached Satyam for an all-stock merger, and if the deal goes through, it will involve Tech Mahindra merging into Satyam.