Rumor has it that IBM has approached the satyam's founder and chairman Ramalinga Raju, the newspaper(www.ft.com) reported, citing an unnamed executive close to the Indian IT Services company.

Satyam Computer Services LTD, India's fourth-biggest software services exporter, denied a newspaper report on Tuesday that IBM had held talks to acquire a stake.

"We are denying the report. The company will issue a statement and the topic would be the rumour doing the rounds about IBM buying a stake," a spokeswoman for Satyam told Reuters over phone from its headquarters in Hyderabad.

Source:1Prashanth RaiTag(s):IT+Services, IBM.