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Patni Computer Likely Up On Stake Sale Report 11/05/2009 09:17



0347 GMT [Dow Jones] Patni Computer Systems (532517.BY) likely to open higher after Financial Express reports that L&T Infotech is in advanced talks to buy majority stake in firm, citing L&T executive who didn't wish to be named. "The promoters have a stake of about 45%-47% in the company and they may sell it at a premium of 10%-20% from current market price. Patni looks like a strategic fit for L&T Infotech," says local analyst. "L&T Infotech has been in talks with Patni for some time now. We have already completed due diligence," report quotes L&T executive as saying. Both Patni, L&T Infotech refused to comment on speculation, report says. Local dealer tips stock to trade in INR450-INR510 range. Patni's shares closed +4.7% at INR456.95. (AMR)


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CHEERS.
if L & T INFOTECH IS PAYING THRU THE NOSE FOR THIS MINI OUTSOURCER
IMAGINE WHERE SAY IS GONNA BE WHEN THE GOOD TIMWS COME.