Engineering giant Larsen & Toubro has shown a keen interest in buying the embattled Satyam Computers, a move which has gained support from institutional shareholders such as Life Insurance Corporation of India (LIC) and ICICI Prudential Life Insurance. It is expected that the engineering heavyweight would present the revival proposal before the newly-constituted board of Satyam soon.
L&T convened its board meeting on Wednesday to discuss its nuclear foray and chances of buying Satyam. The board member representing LIC, a major shareholder of L&T, also attended the meeting.