Fujitsu-Siemens denies break-up reports

 

Fujitsu Siemens Computers has moved to quash reports of its impending break up, describing the talk as "baseless".

Earlier, the Wall Street Journal had reported that leaders at Siemens were looking to dissolve the partnership, citing unnamed sources.

Fujisu Siemens' head of corporate communications dismissed that suggestion but admitted that all parties were in contract discussions.

The original partnership agreement started in 1999, he explained, and was due to run for 10 years.

"If nobody sells its stake, then the partnership will continue for a further five years," he added.

Should Siemens not renew that partnership agreement, Fujitsu has first refusal over its 50 per cent stake.

And as the German engineering giant looks to restructure, as it aims to reduce operating costs by €1.2b by 2010, several of its partnership agreements are under the spotlight.

itweek.co.uk @ 2010 Incisive Media


 
 
 
Top Stories
Photos: Global Switch opens Sydney East data centre
First stage opened, to some fanfare.
 
ATO releases long-awaited Bitcoin guidance
Everyday investors escape the tax man.
 
Why the Weather Bureau’s new supercomputer is a 'gamechanger'
IT transformation starts to reap results.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
Which is the most prevalent cyber attack method your organisation faces?




   |   View results
Phishing and social engineering
  68%
 
Advanced persistent threats
  3%
 
Unpatched or unsupported software vulnerabilities
  12%
 
Denial of service attacks
  7%
 
Insider threats
  11%
TOTAL VOTES: 489

Vote