BANGALORE (Reuters) - India's fraud-hit Satyam Computer Services said on Monday it was commencing a competitive bidding process to sell a 51 percent stake in the outsourcing company. Interested bidders will be asked to submit a detailed expression of interest and the proof of availability of at least 15 billion rupees ($290 million) by March 20, New York-listed Satyam said in a statement.
The government-appointed board of Satyam is looking for a buyer to help restore confidence of its staff and customers, after it was pushed into the center of India's biggest corporate scandal.
(Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)
