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Spice may withdraw from Satyam bid process: Modi

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CIOL Bureau
New Update

HYDERABAD, INDIA: Spice Group, one of the suitors for Satyam Computer Services, said it may withdraw from the bidding process to buy 51 per cent shares of the scandal-hit India outsourcing firm.

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Spice Group chairman B K Modi said the company is planning to withdraw from the race due to a lack of desired transparency in the bidding process.

"We wanted transparency, which we have not got. We don't know who the other bidders are. There is no understanding of a clear-cut auction process," Reuters quoted Modi as saying.

Modi said he would be discussing this issue in a board meeting tonight and take a decision on Spice's participation in the bidding process. Earlier, iGate had opted out of the bidding process.

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