Hyderabad, March 1 Bidding for Satyam Computer Services will not just be restricted to domestic companies but will also be open to international companies.
“International competitive bidding will be followed and anybody can bid for the company subject to the procedure being laid out by the board members of Satyam,” Mr Prem Chand Gupta, Union Minister for Corporate Affairs, told mediapersons on the sidelines of a programme here on Sunday.
He added that the Government would like that there be a healthy and transparent competition among all the bidders.
The Minister also said that the process of calling for bids to find a strategic investor for Satyam is the work of the company’s board.
“The board has appointed advisors and is discussing the procedure. The Government’s desire is only that the whole process be done in a transparent method keeping in mind the interest of the employees, shareholders and clients,” Mr Gupta added.
He said that the process of finding a strategic investor will not take too long and though it was difficult to exactly pinpoint the timeframe, a decision is likely to be taken on the subject in the few next weeks.
Mr Gupta was here to lay the foundation stone for a new building of his Ministry on the city outskirts. The Corporate Bhawan with an office space of 45,000 sq ft will house the offices of the Registrar of Companies, Official Liquidator, the National Company Law Tribunal, among others.
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