Financial Times FT.com

Satyam in crisis after aborted takeover

By Joe Leahy in Mumbai

Published: December 17 2008 07:38 | Last updated: December 17 2008 20:17

India’s Satyam Computer Services on Wednesday pledged to undertake emergency measures to regain investors confidence after its stock plunged over an aborted attempt by the group to buy companies controlled by the chairman’s family.

India’s fourth largest information technology outsourcing company by revenue said it was considering a share buyback, an increase in its dividend payout or other steps to try to reverse the fallout from the proposed deal that institutional investors warned would ruin foreign investor sentiment in India.

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