There seems to be light at the end of the tunnel for the fraud-ridden Satyam Computer Services with two leading corporates — Larsen & Toubro and Essar — showing interest in buying whole or part of the Hyderabad-based IT major, it is understood.
Without identifying the buyers, CII mentor and director on the Satyam board Tarun Das confirmed on Tuesday that there were buyout offers from domestic and foreign companies.
Both companies already have interest in Satyam. While L&T has recently bought a little over four per cent stake in the company, the engineering major is also into IT business through L&T Infotech. The Ruias-promoted Essar is also in IT-related business through its outsourcing firm, Aegis.
It is learnt the Satyam board could soon appoint investment bankers for advice on sale or merger.
HDFC Chairman and Satyam board member Deepak Parekh had also said the merger option was always open.