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

SIFY 10.79

-0.6%

Nov 7 3:59 PM EST

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To: Mohan Marette who wrote (1334)	3/23/2000 8:47:00 AM
From: Mohan Marette	Read Replies (1) of 1471

Sify in JV with Refco Group : Refco-Sify Securities Satyam Infoway Ltd today said it was forming a joint venture with diversified financial services firm Refco Group Ltd, LLC, to offer online investing services. "The new company will be called Refco-Sify Securities India Pvt Ltd and will be headquartered in Mumbai. Refco-Sify Securities will have an initial capitalization of $10mn," the firm said in a statement. Satyam Infoway said it would hold a 40% equity stake in the company, with the remaining 60% held by Refco. "The company will offer online equity and futures trading for retail customers as well as execution and clearing services for financial institutions," the statement added. Satyam Infoway, a subsidiary of Satyam Computer Services Ltd, is the country`s largest private Internet provider with 138,000 subscribers spread over 35 cities and is based in Chennai. It also operates a portal, Satyamonline.com. Source: Reuters via Probity biz.yahoo.com

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