MUMBAI, INDIA: IT major Satyam Computer Services today announced its plans for share buyback. In a release issued to the BSE, Satyam said the company's board meet is scheduled for December 29 to consider the buyback proposal.

The announcement came close on the heels of Satyam's decision to call off the $1.6 billion deal to acquire Maytas Infra and Maytas Properties, a day after the controversial announcement, following the opposition from investors.