Wipro has formally denied that it is in talks to acquire French IT services company Capgemini. It made the statement in response to a request by French securities regulators Autorite des Marches Financiers, which was clearly worried about continued speculation that past denials had done little to dampen.
Investment banking sources have been telling the French media that a bidder is in the final stages of due diligence. Another Indian services provider, Infosys, has also been linked with a possible bid even though analysts have been skeptical as to the logic of a fast-growing, high-margin operator acquiring a vast, mature operator.
