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HCL Info denies stake sale report

Source : REUTERS
Last Updated: Tue, Aug 28, 2012 09:10 hrs
Workers are seen at their workstations on the floor of an outsourcing centre in Bangalore

BANGALORE (Reuters) - HCL Infosystems has denied a report in a local newspaper saying China's Lenovo Group<0992.HK> is in talks to buy a 50.1 percent controlling stake in the Indian company for about 5 billion rupees.

The report sent HCL Infosystems' shares as high as 27 percent. HCL Infosystem sent a statement to the BSE saying it was unaware of any such developments.

The Financial Chronicle reported the talks, citing unnamed senior officials at personal computer maker Lenovo and investment bankers familiar with the development.

Shares in HCL Infosystems, which manages computer systems for large organisations, mostly in India, were trading up 16.6 percent at 42.15 rupees at 0851 GMT. Lenovo shares were down 1.4 percent.

(Reporting By Harichandan Arakali)




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