HCL Info down 9%; co says not in talks with Lenovo

Shares of HCL Infosystems fell more than 9 percent after the company denied media reports that Lenovo may be in talks to buy a 51 percent stake in the com.

FP Staff August 29, 2012 12:21:13 IST
HCL Info down 9%; co says not in talks with Lenovo

Shares of HCL Infosystems fell more than 9 percent after the company denied media reports that Lenovo may be in talks to buy a 51 percent stake in the com.

HCL Info down 9 co says not in talks with Lenovo

HCL categorically stated that it has no plan of divesting any part or all of its shareholding in HCL Infosystems in the foreseeable future. Reuters

"Recent media reports have alleged a possible buyout of the promoter's stake in HCL Infosystems by Lenovo. HCL Corporation, which owns 42.85 percent in HCL Infosystems Limited out of the total promoters' shareholding of 50.77 percent, wishes to categorically state that it has no plan of divesting any part or all of its shareholding in HCL Infosystems Limited in the foreseeable future," HCL Corp was quoted as saying in media reports.

A Business Line report said HCL Infosystems surged 20 percent on Tuesday on rumours that Lenovo is buying promoters 51 percent stake at around Rs 500 crore.

The report said in a recent interview to the newspaper, a Lenovo official had said the company kept its "eyes open for mergers and acquisitions at all levels", whether in India or globally.

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