New owners of Sify Broadband?

Sushubh

Administrator
[OP]
Oct 29, 2004
418,376
13,014
Gurugram
One of the most recognized software companies in India Satyam Computer Services Ltd. has sold its entire stake in its former subsidiary Sify Limited. They sold the remaining share of around 31.61 percent in Internet firm Sify Ltd. to U.S.-based Infinity Capital Ventures Ltd. for $62.62 million.

Infinity Capital has also bought additional 6.7 million new shares of Sify worth $37 million at about $5.60 each in a separate cash transaction as per the statement released by Sify. Satyam says that with their stake in Sify gone, they can now concentrate on IT services and unlock the value of its investment.

More: http://sifytechwhack.co/299/101...-stake-in-sify/
 

muttster`

Regulars
Regulars
Mar 25, 2005
714
4
lets hope for the best from the new owners...*sigh* ive dropped my sify connection....MTNL is too reliable to warrant a backup :)
 


max

Regulars
Regulars
Oct 6, 2005
2,766
6
w00t! This is some great news!! Where are the champagne bottles! Lets celebrate! I hope they FIRE all of Sify's management and bring in some REAL management for Sify! :Dedit: wait a minute. They have only 40% stake! They dont have a controling stake, or do they? :blink:
 

kingkrool

Regular
Regulars
May 3, 2005
108
0
It is the single largest stake, so that is a controlling stake.Anyway, the CC guyz will remain the same, so it is really not going to affect use, except that maybe the new chaps will realize that they have to compete with Airtel, so maybe they will lower their rates?