With the market getting wind of negotiations under way on the first UKP1,000m acquisition of a British company by a Japanese one, attention is certain to focus again on STC Plc and its ICL subsidiary, which might be worth UKP1,000m to Fujitsu as a firm foothold in the European market: it still seems highly unlikely but the market refuses to believe STC’s oft-repeated affirmation that while partnerships for ICL are on the cards, outright sale is not; one attraction for Fujitsu is that ICL is strong in retail systems – some of the terminals being built for it in Japan by Fujitsu – and point-of-sale terminals are one of Fujitsu’s chosen targets for its international business; what would STC do with UKP1,000m? It would have to have a major target already lined up to avoid becoming the victim of a hostile bid itself.
