Thursday, February 08, 2007
Oracle in early talks for Intec | Business | Money | Telegraph
Oracle in early talks for Intec Business Money Telegraph: "Charles Phillips, Oracle's president, met Intec's chief executive Kevin Adams in central London earlier this month. Although Intec has yet to receive an offer from Oracle, a potential transaction has been discussed.
Intec, which produces billing systems for telecoms companies, has beaten Oracle in two recent competitive tenders. Shares in Intec – hit by a profit warning last week – bounced 3 per cent on Friday in anticipation of a bid.
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Any successful bidder is likely to have to pay a substantial premium to the current share price of 33.75p. General Atlantic, the US private equity heavyweight, built a 23 per cent stake in Intec at an average price of 63p – almost twice the current price."
Intec, which produces billing systems for telecoms companies, has beaten Oracle in two recent competitive tenders. Shares in Intec – hit by a profit warning last week – bounced 3 per cent on Friday in anticipation of a bid.
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Any successful bidder is likely to have to pay a substantial premium to the current share price of 33.75p. General Atlantic, the US private equity heavyweight, built a 23 per cent stake in Intec at an average price of 63p – almost twice the current price."
