01-16-2009, 12:41 AM
<b>Director says Satyam viable, no govt bailout plan - report</b><!--QuoteBegin-->QUOTE<!--QuoteEBegin-->Fraud-scarred Satyam Computer Services is a financially viable company and there is no plan for a government bailout, the Times of India newspaper said on Thursday, quoting a newly appointed director.
"Taking money from the government will send a wrong signal," Kiran Karnik told the paper, amid speculation that the state will have to step in to rescue the firm.
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The three-member board was working towards making Satyam financially viable before considering any sale or merger, the paper said.
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<b>Satyam's stock market value has dived to less than $450 million from more than $7 billion six months ago</b>.<!--QuoteEnd--><!--QuoteEEnd-->
"Taking money from the government will send a wrong signal," Kiran Karnik told the paper, amid speculation that the state will have to step in to rescue the firm.
..........
The three-member board was working towards making Satyam financially viable before considering any sale or merger, the paper said.
...
<b>Satyam's stock market value has dived to less than $450 million from more than $7 billion six months ago</b>.<!--QuoteEnd--><!--QuoteEEnd-->