'Satyam's Final Roadmap in 10 Days'

Mumbai
'Satyam's Final Roadmap in 10 Days'
outlookindia.com
-0001-11-30T00:00:00+0553
The Government-appointed Satyam Computer Board would decide on the final road map for bringing the IT major back on rails in the next 10 days, a top executive said today.

"We would chart out the road map in the next 7-10 days," Satyam Chairman Kiran Karnik told reporters while answering a question on whether the Board would opt for an open offer or auction for the company.

The Satyam Board has scheduled its meeting in the city for tomorrow. "We will meet in Mumbai tomorrow at around 9.30 am and we are working on the venue," he said.

Asked whether the decision on the road map would be taken in tomorrow's Board meeting, Karnik said, "When I say 7-10 days, I expect we would have one more Board meeting."

"It may require Government approval...We don't know," he said.

Asked whether any clients have left Satyam, Karnik said that earlier there were a couple of cancellations but now there is stability.

Karnik refused to comment on the number of suitors for Satyam since "we have not yet formally invited any kind of applications".

"The roadmap will define what we tend to do," he said.

Asked whether Satyam would be sold entirely or in parts and whether there was any consensus on this, Karnik said "there is a thinking (on looking) at it as a whole entity and it is something appropriate to look at."

"There is a danger that any of the sensible businessmen who want to cherry-pick will take the good parts and the bad might be left...And people will lose (their) jobs."

"Our first preference will be looking at the company as a whole," Karnik said.

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