Satyam Computer calls off Maytas infra Acquisition

• Author: Lalitha
• Filed under: Telecom
• Date: Dec 17,2008

Satyam computer which was battered like anything yesterday in ADR by almost 55 percent was really surprised by the move and got like battered in Indian market also and finally they called off the acquisition , im not sure if the investors thought that this was very bad deal I’m not sure if there was any study or analysis done by Satyam before proceeding with this agreement.Commenting on this decision, Satyam Chairman, Mr.Raju said,

“We have been surprised by the market reaction to this decision even though we were quite positive about the merits of the acquisition. However, in deference to the views expressed by many investors, we have decided to call off these acquisitions.”