Mahindra Satyam may merge with Tech Mahindra next year
Tuesday, 24th May 2011
The proposal of Mahindra Satyam (the brand identity of Satyam Computer Services Ltd) for merger with its parent company Tech Mahindra is likely to take place by April-May 2012. The company is in talks with the US regulator, Securities and Exchange Commission (SEC), to clear the air on certain issues and is hopeful of its relisting on the New York Stock Exchange (NYSE).
Vineet Nayyar�It is our intention to merge ... and we are in dialogue with the SEC to know the areas where we have problems. At present, there are certain issues which have to be sorted out, and we hope these to be settled by October. Integration involves some legal processes. Also, the proposal has to be cleared by the Andhra Pradesh and the Maharashtra high courts. We are still looking at April-May next year,� chairman Vineet Nayyar said on Monday.
Publication : Business standard
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