Satyam board to consider alternatives at Jan. 10 meeting

By Lisa Kerner

Charlotte, N.C., Dec. 29 - Satyam Computer Services Ltd. rescheduled its board of directors meeting to Jan. 10 and said the company will consider actions beyond a possible stock buyback.

The actions include strengthening Satyam's governance structure and reviewing strategic alternatives, a company news release said.

According to Satyam, the stake held by its founders may have been reduced as a result of margin calls. In addition, four of the company's directors recently resigned.

"Satyam's board of directors recognizes the serious nature of certain questions raised by the events of the last two weeks," Satyam chairman and founder B. Ramalinga Raju said in a company news release. "In order to ensure that these questions are properly addressed, and that the interests of stakeholders are fully and carefully considered, Satyam has decided to broaden the scope of its deliberations beyond a possible buyback of its stock."

Satyam is a business and information technology services company based in Hyderabad, India.

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