Satyam could be auctioned off electronically


Satyam could be auctioned off electronically

Karl Flinders

Satyam could bring all of its potential buyers together electronically using video conferencing to ensure the most visible process possible as the troubled firm looks for a buyer.

The company and its suitors could meet via web conferencing technology to ensure that all parties can be involved in negotiations.

"This is basically an interactive video conferencing style format that shows visibility to all (including staff and customers) of the bids that the companies are putting in for the company," said a Satyam spokesman.

The company said no official decision has been made as to whether it will use the e-auction model.

The company has been at the centre of controversy since its former chairman B Ramalinga Raju admitted that he had fiddled the company's books for several years.

According to reports in India there are up to eightcompanies interested in buying Satyam.

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