NEW DELHI, Jan 24: India’s biggest engineering company Larsen and Toubrou has almost tripled its stake in fraud-hit Satyam Computer Services to 12 per cent, edging closer to a possible takeover bid.
The company, now Satyam’s largest single shareholder, told the Bombay Stock Exchange on Friday it had raised its holding in India’s fourth-largest outsourcing company to 12pc from 4.48pc.
If Larsen hikes its stake further, India’s takeover rules dictate that it would be obliged to make a full-scale offer for the company, which is at the centre of India’s biggest fraud scandal. —AFP
Read more
On DawnNews
Dear visitor, the comments section is undergoing an overhaul and will return soon.