India’s Larsen frontrunner for Satyam

Indian engineering and construction firm Larsen & Toubro is likely to present a revival plan to the board of fraud-hit Satyam Computer Services, reports Reuters citing local media reports. Larsen was a front-runner for acquiring Satyam, and institutional investors in Satyam such as Life Insurance Corporation and ICICI Prudential Life Insurance were supporting its bid. Larsen, which holds about 4% in Satyam, did not rule out the possibility of an alliance with Satyam once the investigations into the company’s accounts had been done