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L&T open to alliance with Satyam

Mumbai, Jan. 9

Engineering and construction major Larsen and Toubro, which has around four per cent stake in Satyam Computer Services, is keeping its options open regarding any possible strategic alliance with the company.

Mr A.M.Naik, Chairman, L&T, said the stake was acquired earlier as L&T was for an alliance with the company. This would have provided L&T a foothold in the IT space.

L&T has its own software company L&T Infotech that offers IT services and solutions. However, after the Rs 7,136-crore financial mess in Satyam came into the open on Wednesday, the focus has now shifted to a wait-and-watch mode. There are no plans to acquire any additional stake as of now. Earlier, L&T's investment arm, L&T Capital, acquired the stake in Satyam. - Our Bureau

Related Stories:
L&T says no strategic interest

More Stories on : Alliances & Joint Ventures | Larsen & Toubro Ltd | Satyam Computer Services Ltd | Software

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