Friday, June 01, 2007
SAP shares rise 3% on talk Oracle bought a stake - May. 22, 2007
SAP shares rise 3% on talk Oracle bought a stake - May. 22, 2007: "SAP shares rose as much as 3 percent on market talk that U.S. software firm Oracle had bought a stake in its German rival, though analysts said such a move was unlikely.
'There is talk that Oracle bought 8 percent in SAP,' one trader said. Other traders also cited the talk.
But a SAP (Charts) spokesman dismissed this as pure speculation.
'One week it's Microsoft, this week it's Oracle. Let's see what they say next week,' the spokesman added.
Oracle (Charts, Fortune 500) was not immediately available for comment.
Analysts said the talk did not seem to make much sense.
'It sounds far-fetched to me,' said one analyst who declined to be named.
Another pointed to the fact that Oracle would have to tell SAP if it had made such a move. German firms have to inform the markets within one week of significant changes to their shareholder structure.
SAP shares were up 2.3 percent at €35.04 in mid-afternoon trade, making them the third-biggest gainers on the German blue-chip DAX index, which was up 0.5 percent. Oracle shares were up 0.3 percent at $19.38.
German media have reported in recent weeks that SAP, which has a market capitalization of about $60 billion, could be a takeover target due to recent declines in its share price."
'There is talk that Oracle bought 8 percent in SAP,' one trader said. Other traders also cited the talk.
But a SAP (Charts) spokesman dismissed this as pure speculation.
'One week it's Microsoft, this week it's Oracle. Let's see what they say next week,' the spokesman added.
Oracle (Charts, Fortune 500) was not immediately available for comment.
Analysts said the talk did not seem to make much sense.
'It sounds far-fetched to me,' said one analyst who declined to be named.
Another pointed to the fact that Oracle would have to tell SAP if it had made such a move. German firms have to inform the markets within one week of significant changes to their shareholder structure.
SAP shares were up 2.3 percent at €35.04 in mid-afternoon trade, making them the third-biggest gainers on the German blue-chip DAX index, which was up 0.5 percent. Oracle shares were up 0.3 percent at $19.38.
German media have reported in recent weeks that SAP, which has a market capitalization of about $60 billion, could be a takeover target due to recent declines in its share price."
