Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
Engulfed by a fraud scandal and its very existence under threat, services group Satyam has had three new members on a newly constituted board forced on it by the Indian Ministry of Corporate Affairs.
Speaking in Hyderabad, a spokesman for Satyam announced the appointment
of Deepak S Parekh, chairman of HDFC Bank, Kiran Karnik, former
president of NASSCOM and C Achuthan, director at the National Stock
Exchange, former member of SEBI, and former chairman of Securities
Appellate Tribunal.
Satyam welcomed the appointments to its newly formed board of “three
distinguished members”, claiming that “this key development” will
ensure the company’s continued operations, help maintain customer
confidence and associated morale, as well as restoring investor trust.
“The new members are eminent and accomplished leaders, recognised in
India and around the world for their expertise in finance, law,
administration and the IT services industry. Satyam's leadership team
has complete confidence in them and pledges to work closely and in full
cooperation with the new board," the Satyam spokesman said.
With the board to convene in the next 24 hours, the company said the
appointments were a vital stabilising development for Satyam and marked
the beginning of a new chapter in the company's history.
“It is the best news we've received in the past four weeks," the company spokesperson added.
David Bass
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