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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY)

SIFY 12.50

+2.7%

Dec 26 9:30 AM EST

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To: Mohan Marette who wrote (357)	12/10/1999 8:59:00 AM
From: Mohan Marette	Read Replies (2) of 1471

AOL reportedly eyeing Satyam stake - CBS MarketWatch reports By Tomi Kilgore & Brenon Daly, CBS MarketWatch Last Update: 8:43 AM ET Dec 10, 1999 NewsWatch Market Pulse NEW YORK (CBS.MW) -- Shares of India's Satyam Infoway soared in pre-market trading Friday on a report that America Online was preparing to purchase a "substantial" stake in the company. Satyam (SIFY: news, msgs) rallied 12, or 8.2 percent, to 158 in Instinet trading. The Hindustan Times reported that AOL may be seeking a stake of 30 to 35 percent in the Indian Internet service provider. B Ramalinga Raju, chairman of Satyam declined to comment on the proposed deal, but when specifically asked to deny the same, he said told the paper, "we are looking at various opportunities to raise funds and such discussions are part of that exercise." Satyam currently has a market capitalization of approximately $3 billion, noted Hindustan. AOL shares slipped 1/2 to 85 3/4. cbs.marketwatch.com

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