Satyam Computers to offer share buyback

Satyam Computers infuriated their investors with a deal that could have propped up other companies of its promoters. Satyamare are now hoping to please shareholders with a number of rewards, such as a share buyback or even a dividend payout.

Satyam Computers announced yesterday that they are to acquire Maytas Properties and Maytas Infrastructure for $1.6 billion. These two companies are run by Satyam chief Mr Ramalinga Raju’s two sons B Rama Raju and Teja Raju.

However Satyam Investors was not happy and the deal has now been called off. The reversal of the deal comes just one day after the Satyam Board approved the deal, but institutional investors such as CLSA, Reliance Mutual Fund Templeton Mutual Fund and SBI Mutual Fund threatened to resist the deal.

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