Larsen and Tourbo, the largest single shareholder in Satyam Computer, said on Friday it would wait for details of the bidding process and available financial figures before taking any decision on the bidding.
"The statement of Satyam today is elementary. We will have to study the documents and then decide what to do next. We have to know how they (Satyam) are going to evaluate the company... One just cannot go by the lowest price, one will have to see what the benefit in it for the shareholders is," L&T Chairman A M Naik told PTI on the phone.
L&T recently hiked its holding in Satyam to 12 per cent by acquiring close to 8 per cent stake through the open market.
On Friday, SEBI approved the bidding process of Satyam Computer enabling the Hyderabad-based company to sell a 51 per cent stake -- 31 through preferential route and 20 per cent via open offer.
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