Dec 17 2008
SATYAM DROP THE DEAL
Satyam Computer Services Ltd bowed to investor pressure and canceled plans to spend $1.6 billion to buy two builders, killing the deals just 12 hours after they were announced
Tuesday’s unusual turn of events began after the close of India’s stock markets when Satyam said it planned to enter the depressed construction industry by buying all of privately held Maytas Properties for $1.3 billion and 51 per cent of builder Maytas Infra for $300 million
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