Satyam loses contract from Telstra: report

BANGALORE, INDIA: Fraud-hit Satyam, which is struggling hard to regain its credibility, lost a major Australian client, a media report from Australia said today.

According to 'The Australian', Australian telecom giant Telstra has cancelled Satyam as an outsourcing partner from an application support contract.

The contract is believed to be worth of Australian dollar 32 million a year. The contract would be picked up by EDS (Electronic Data Systems Corp), it added.

However, Telstra declined to comment by saying the decision about its supply arrangements with individual vendors would not be announced to the media.

Losing the Telstra account is a major blow for the struggling Satyam, as Telstra represents about 35 per cent of its Australian revenue, added the site.