The Channel logo

News

By | Drew Cullen 27th December 2007 18:35

Capgemini ‘not talking to Wipro’

Shares take a tumble

Capgemini shares fell sharply on the Paris bourse, after the company said it was not in takeover talks with Indian rival Wipro.

Shares in the computer services firm ended the day down 3.2 per cent to €43.57, while Wipro shares edged up 2.5 per cent to close at 549.3 rupees ($13.93) on the Bombay Stock Exchange, Bloomberg reports.

On December 24, Capgemini shares jumped 11 per cent on a report in the Hindustan Times that Wipro was prepping a €7bn bid for the company, which would value shares at €48 apiece. An offer was expected to be tabled by the end of January, according to the paper’s sources.

Today’s news from Capgemini does not as yet undermine the Indian newspaper’s report. But it indicates that Capgemini is nowhere near the “welcome Wipro with open arms” stage. And as hostile takeovers in the software services sector are rare, it is likely that that an acquisition is on the cards, until it receives the blessing of Capgemini's board. ®

comment icon Read 4 comments on this article alert Send corrections

Opinion

Neil McAllister

Claims that cloud will drive Oracle's future growth ring hollow
Pure Storage array

Neil McAllister

How the cloud taught Redmond to play by a new set of rules

Features

Pebble Steel
Meet the man who accidentally created the smartwatch hype
No, silly... he was the fall guy for years of Finnish folly
Fraud image