India Infoline News Service / Mumbai Aug 05, 2009 16:34
Under the conditions of the Satyam sale, bidders for the company are barred from selling their stakes, acquired prior to the bid, for six months.
L&T has requested for permission from the market regulators to offload its stake in Mahindra Satyam, stated reports.L&T had acquired up to12% stake in Mahindra Satyam, earlier ahead of the sale of the company, hit by the country’s biggest corporate fraud.
In the month of April, L&T ended losing the bid for a controlling stake Mahindra Satyam, which was ultimately acquired by Tech Mahindra. Under the conditions of the Satyam sale, bidders for the company are barred from selling their stakes, acquired prior to the bid, for six months.