UK electronics entrepreneur Alan Sugar has paid 2.3m pounds to buy 9.7 million shares in Viglen Technology Plc, which increases his holding in the PC maker from 33.7% to 41.7%. At this level of ownership, Sugar is obliged under the city code on takeovers and mergers to make a full-scale bid for the shares he does not own. But a spokesperson for Viglen said the company had been informed by Sugar that he did not wish to take the company into private ownership. Viglen shares leapt 64% to 23 pence on the news. Viglen’s share price collapsed from 87.5 pence towards the end of last year to a recent low of 14 pence as analysts took a dim view of the company’s ability to compete in the cut-throat PC market. Last month, the company reported net income in the year to June 30 down 9.9% to 2.7m pounds on revenues that declined 6.1% to 94.6m pounds.
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