P.M. BRIEFING : STC Negotiating Fujitsu Deal
STC PLC, the parent company of Britain’s biggest computer maker, today said it is negotiating the sale of a majority stake in its computer arm to Japan’s leading computer manufacturer, Fujitsu Ltd.
Such a stake in the subsidiary International Computers Ltd., or ICL, would give Fujitsu a major foothold in Europe ahead of the creation of the single European market in 1992, while offering ICL security for the future, analysts said.
STC, formerly known as Standard Telephones & Cables, confirmed the negotiations after Fujitsu President Tadashi Sekizawa said earlier in Tokyo that his company is considering purchasing an interest in ICL but that “nothing has been decided yet.”
Newspaper reports in Britain and Japan have said Fujitsu would acquire 50% to 60% of ICL’s equity for about $1.2 billion.
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