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February 22, 1993


By CBR Staff Writer

Responding to a story in the Independent on Sunday, ICL Plc said that plans for its 80% shareholder Fujitsu Ltd to float ICL shares on the London International Stock Exchange within five years of taking its stake in 1990 have not altered: We have been interviewing a number of financial public relations firms in the run up to a flotation, but this sort of thing is a long-term strategy – any company that was going to do it properly would have a long lead time, it told Reuter; Fujitsu paid UKP740m for 80% of ICL, and Northern Telecom Ltd, which holds the balance, wants to get that down to about 5%; the aim is not to float until it can sustain a price of 225 pence a share, which would value it at UKP1,200m; in the present market for computer stocks in London, that should be possible.

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