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
The True Cost of BYOD - 2014 survey
Twelve months on from our first study, is BYOD a better proposition?
 
Photos: Unboxing the Magnus supercomputer
Pawsey's biggest beast slots into place.
 
ANZ looks to life beyond the transaction
If digital disruptors think an online payments startup could rock the big four, they’ve missed the point of why people use banks, says Patrick Maes.
 
 
Sign up to receive iTnews email bulletins
   FOLLOW US...
Latest Comments
Polls
What is delaying adoption of public cloud in your organisation?







   |   View results
Lock-in concerns
  29%
 
Application integration concerns
  3%
 
Security and compliance concerns
  28%
 
Unreliable network infrastructure
  9%
 
Data sovereignty concerns
  22%
 
Lack of stakeholder support
  3%
 
Protecting on-premise IT jobs
  4%
 
Difficulty transitioning CapEx budget into OpEx
  3%
TOTAL VOTES: 1120

Vote