Compagnie des Machines Bull SA was one of the most vocal of the continentals arguing that ICL Plc should be summarily ejected from European collaborative ventures after control of the company passed to Fujitsu Ltd, but now Bull itself could become majority Japanese-owned. In Tokyo on Friday, French Industry Minister Gerard Longuet said for the first time that his government would set no ceiling on the size of shareholding NEC could take in Bull – and taking full control of Bull would be a very much more attractive proposition for NEC than simply investing more money for a bigger stake, in return for a wishy-washy promise of closer collaboration. Downside is the risk of renationalisation under a new government. According to Reuter Longuet said that before committing itself, NEC wanted to know about the financial restructuring proposed by new Bull chairman Jean-Marie Descarpentries.
