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IBM seen ahead in race for Satyam: report

IBM has begun talks with Satyam’s government-nominated board and has brought in a team of lawyers and investment bankers.

International Business Machines Corp. (IBM) is keen on acquiring the scam-tainted Indian IT services firm Satyam Computer Services Ltd., according to a financial newspaper. IBM is understood to be the front-runner to acquire Satytam, the business daily adds.

IBM has begun talks with Satyam’s government-nominated board and has brought in a team of lawyers and investment bankers to assess the deal and its risks, the paper says.

The company doesn’t comment on rumors and speculation, Prashanth Balarama, a Bangalore-based spokesman for IBM, has been quoted as saying. Sridhar Maturi, a Hyderabad-based spokesman for Satyam, declined to comment.

Apart from IBM, other prominent players in the race to acquire Satyam are Larsen & Toubro (L&T), which owns 12% in the Hyderabad-based company, Tech Mahindra, B.K. Modi-owned Spice group and the Hinduja group.

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