Satyam Computer Services Ltd’s board expects to outline the bidding process for a possible sale of the fraud-hit firm in the next 10 days time,Chairman Kiran Karnik said on Thursday.
“We expect the (bidding) process to be defined in 7 to 10 days,” Karnik told reporters.
“It’s a work in progress. I can’t give any deadline. I can only tell you,this needs to be done quickly.”
Karnik said on Wednesday many potential suitors had approached Satyam,but a formal sale process was yet to begin.
The board has appointed Goldman Sachs and Avendus,an Indian investment bank,to look for strategic investors.