Ambani Eyes Capgemini

Anil Ambani-led Reliance Communications is looking for a possible takeover of French IT services group Capgemini, a report in the online edition of The Times on Thursday said. When contacted by media, a Reliance Communications spokesperson declined to comment. The report said that Reliance Communications has held early-stage talks with Capgemini. Quoting sources, the report said, "Times Online can reveal the French-based group has met with Reliance Communications, the technology and telecoms arm of Anil Ambani's Reliance ADAG group in recent months." "The initial discussions failed to make progress after the parties could not agree on a price," it added. According to the report, Reliance Communication's interest confirms Ambani's hopes to build a significant IT business. "A move on Capgemini would give it access to a client base in continental Europe and catapult it among the world's top ten IT groups by market share," it said.

In recent months, there were also reports that Capgemini had held talks with India's leading IT firms Wipro and Infosys on a possible takeover. However, the rumours were denied by Wipro and Infosys later. On its part, Capgemini CEO Paul Hermelin in an e-mailed statement to media also denied the rumours. "As Capgemini has already stated a number of times, these rumours are without any merit and have been fully denied." "They have been exclusively and systematically targeted at Capgemini, at the precise time where we have demonstrated our strength and ability to successfully compete for additional market share and talents," he said.

Sources: ET

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