Click to play videoNew Delhi: Fallen IT firm Satyam’s new board has appointed Boston Consulting Group as its management advisors to support the directors in their future course of action.
CNN-IBN’s Varun Kumar caught with with BCG partner's James Abraham and asked him what it means both for Satyam and BCG.
Varun Kumar: What is going to be the key priorities of the company? What are you focusing at this time?
James Abraham: We are going to focus on confidence. The confidence between the customer and the employees who had been serving them and make sure the structures and process reinforce that. That will keep the core of this company continue.
Varun Kumar: What is your plan of action to revive the company?
James Abraham: It needs to be a detailed plan. So we will go through each top customer list and understand which employees have been serving them and bring that together and show that this relationship had existed for a long time and can continue to exist and draw the structures of process to make that continue.
Varun Kumar: Looking at the strong signals from the market, we have L&T obviously asking to buy out a majority stake, there are also rumours that the borad members were in talks wtih SEBI to not put a 26-week average share price, what is it that we are looking at. Is there a buyout on the cards?
James Abraham: I think buyout is one likely outcome. I like the idea of a longer term look at the price. It definitely takes some of the short-term issues that the company has faced and shows that the value of this company has been around for a long time. Forty thousand employees have been building this for a long time. And we have to recognise that. Buyout is likely so are other outcomes.
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