New Delhi: Larsen and Tourbo (L&T), the largest single shareholder in Satyam Computer, on Friday said it would wait for details of the bidding process and available financial figures before taking any decision on bidding.
“The statement of Satyam today is elementary. We will have to study the documents and then decide what to do next. We have to know how they (Satyam) are going to evaluate the company”.
“One just cannot go by the lowest price, one will have to see what is the benefit in it for the shareholders”, said A.M. Naik, L&T Chairman.
L&T recently hiked its holding in Satyam to 12 per cent by acquiring close to 8 per cent stake through open market.
The SEBI today approved the bidding process of Satyam Computer enabling the Hyderabad-based company to sell 51 per cent stake - 31 through preferential route and 20 per cent via open offer.