Fidelity raises stake to 10.2%

UK-based private equity and investment fund Fidelity has raised its stake in Satyam Computer Services by 0.27 per cent to 10.17 per cent through open market purchases.

UK-based private equity and investment fund Fidelity has raised its stake in Satyam Computer Services by 0.27 per cent to 10.17 per cent through open market purchases.

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The move is the second such in a month by the UK company. Earlier, it had increased its stake to 8.89 per cent on February 11, 2009.

Engineering firm Larsen & Toubro holds about 12 per cent of Satyam and is the single-largest shareholder of the fraud-hit firm, whose board is in the process of inviting interests from potential bidders.