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Not in talks to take over Capgemini, says Wipro
Wipro Ltd today revealed to the stock exchanges that it is not in any discussion to take over Capgemini, as has been speculated in parts of the media, reports Business Line.
Wipro Ltd today revealed to the stock exchanges that it is not in any discussion to take over Capgemini, as has been speculated in parts of the media.
It says that a request from the French securities regulatory authority, the AMF, triggered the statement. Capgemini is a France-based provider of IT and consulting services with about 7.7 billion Euros in 2006 revenues and with nearly 82,000 people as at September 2007.
The statement says, "Wipro Ltd, on behalf of all companies in the Wipro group, including Wipro Technologies, its global IT services Division, at the request of the French securities regulatory authority, Autorite des marches financiers (AMF) confirm that they have not recently been, and are not in discussions with... or in relation to Capgemini, the French Euronext listed group, on (the) merger (or) takeover of Capgemini."
No member of the top management was available for comment, citing the silence period before Wipro's quarterly results due out on January 18. Asked why the company had a release during the silent period, a spokesperson told Business Line, "Since Capgemini is listed in France and we received a request to clarify from the regulatory authority there, we had to respond. Simultaneously, we had to disclose the same to the Indian stock exchanges, as well."
