Spice decision on Satyam bid process expected

Mumbai: Sources in the Spice Group say the company’s board held a meeting to discuss the Satyam buy till late on Wednesday evening in New Delhi.

A decision on the Satyam bidding was expected early on Thursday, sources added.But there has been no official word on the issue, as yet.

BK Modi, Chairman of the Spice Group, has expressed his reservations over the Satyam bidding process.

The race to buy a controlling stake in the crisis-hit Satyam intensified on Thursday after the tech firm’s board initiated the due diligence exercise on the same day.

Modi said he wants greater transparency, including disclosure of all qualified bidders. The Spice Group is among the many other bidders that are learnt to have been qualified.