Saturday, January 10, 2009

L&T to takeover Some Verticle's in Satyam?


Hyderabad Jan 10:Engineering and construction major Larsen and Toubro, which has around 4% stake in Satyam Computer Services which it has bought a month ago, is keeping its options open regarding takeover of some verticles of the company.
Mr A.M.Naik, Chairman, L&T said that' This would provide L&T a foothold in the IT space' L&T has its own software company L&T Infotech that offers IT services and solutions. However, after the Rs 7,136-crore financial mess in Satyam came into the open on Wednesday, the focus has now shifted to a wait-and-watch mode. There are no plans to acquire any additional stake as of now.

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