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Capgemini ‘not talking to Wipro’27 Dec 2007 18:35 Shares take a tumbleCapgemini 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. ® 4 comments posted — Comment period finished Ooops!Posted: 22:43 27th December 2007 @ ianPosted: 00:04 28th December 2007 Truth Economies are Rich Estates for Valuable Stores and Scores/Assets and TalesPosted: 08:06 28th December 2007 Official denialPosted: 09:43 28th December 2007
Track this type of story as a custom Atom/RSS feed or by email. Related storiesWipro seeks firepower for Capgemini bid (24 December 2007)
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