Financial Times FT.com

Satyam eyes bids ahead of restated accounts

By Joe Leahy in Mumbai

Published: March 1 2009 20:13 | Last updated: March 1 2009 20:13

India’s scandal-hit Satyam Computer Services is to invite formal bids from potential suitors this week, pushing ahead with a possible sale – even though it could be months before its accounts are restated.

The country’s fourth-largest information technology outsourcing group, which has appointed Goldman Sachs and Avendus Capital as advisers, will invite expressions of interest as soon as regulatory approvals are completed.

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