India's Satyam says commences bidding process

Reuters - India's fraud-hit Satyam Computer Services said on Monday it was commencing a competitive bidding process to sell a 51 percent stake in the outsourcing company.

BANGALORE (Reuters) - India's fraud-hit Satyam Computer Services closes registrations for potential bidders on Thursday, kicking off a process to sell a majority stake in the company caught in the country's biggest corporate scandal.

India's fraud-hit Satyam announced on Wednesday a loss of 27.6 million dollars for the last fiscal year as it reported its first earnings since an accounting scandal pushed the firm to the edge of bankruptcy.The outsourcing company, rebranded Mahindra Satyam, posted a net loss of 1.24 billion rupees (28 million dollars) for the 12 months ended March on 54.8 billion rupees revenue -- in line with market expectations.

MUMBAI, India (AP) -- India's Satyam Computer Services Ltd. has received clearance to sell off a majority stake through a competitive global bidding process, the troubled software services company said Friday....

India's Satyam Computer Services Ltd. has received clearance to sell off a majority stake through a competitive global bidding process, the troubled software services company said Friday.

MUMBAI (Reuters) - Satyam Computer Services Ltd , India's fraud-scarred outsourcing firm, may name a new leadership team later on Friday, local media reported, after a two-day meeting of the company's new government-appointed board.