US investor in Monday's auction for Satyam

US investor Wilbur Ross has been named as the latest bidder for troubled IT service provider, Satyam Computer Services. Ross, a billionaire know for...

US investor Wilbur Ross has been named as the latest bidder for troubled IT service provider, Satyam Computer Services.

Ross, a billionaire know for restructuring failed companies, is one of four bidders expected to take part in an auction for Satayam on Monday, according to the Financial Times.

The other three bidders are expected to be US outsourcing company Cognizant Technology Solutions and Indian engineering firm Larsen & Toubro, and IT services firm Tech Mahindra.

Other companies that have shown interest in buying Satyam include IBM, Hewlett-Packard, CSC, and the Spice Group.

The bidders have conducted due diligence and are expected to file formal bids on Monday, when there will almost certainly be an announcement on Satayam's acquisition, according to a company spokesman.

The company has been up for sale since the Indian government appointed a board to stabilise Satyam after its former chairman B Ramalinga Raju admitted to cooking the books.

India's federal police yesterday formally charged Raju along with two of his brothers, two Price Waterhouse auditors and four others with criminal conspiracy.

Price Waterhouse India said it was a victim of Raju's fraud that was designed to circumvent the audit firm's processes.

Raju admitted in January that he had falsely reported the company's results for years.

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