Fidelity raises stake in Satyam to 6.79%

Scandal-hit Satyam Computer Services today said Fidelity International (FIL Asia Services Pty Ltd) has purchased 3.62 per cent shares, raising its stake in the company to 6.79 per cent, according to media reports.

Fidelity is estimated to have purchased these shares, through various bulk deals for about Rs 277 crore. This makes Fidelity the second largest shareholder in Satyam after Larsen & Toubro, which holds a 12 per cent stake.

The board would discuss over the appointment of the CEO and CFO and the next board meeting is to be held on February 5. It is expected that board might soon declare the names of CEO and CFO.