MphasiS falls on HP`s $8.8 bln writedown

MphasiS falls on HP's $8.8 bln writedown

Last Updated: Wed, Nov 21, 2012 06:06 hrs
Employees work on their computer terminals on the floor of an outsourcing centre in Bangalore

Shares in software and back office provider MphasiS fall 2.8 percent after majority owner Hewlett-Packard Co took a $8.8 billion writedown after alleging a massive accounting scandal at its British software unit Autonomy.

The news sent HP's shares, which owns 60.5 percent stake in MphasiS, plunging 12 percent to a 10-year low.

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