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November 29, 1993

XEROX LOOK SET TO BUY RANK XEROX SHARE

By CBR Staff Writer

It’s been in the wind for so long that most people have despaired of it ever happening, but straws in the wind cause market observers to believe that the sale of its 49% of Rank Xerox Ltd to Xerox Corp is back on the front burner at Rank Organisation Plc and that something could happen early in the New Year; Rank chief executive Michael Gifford told the Sunday Times that the stake had a question mark on it given Xerox’s desire to concentrate on document processing – Xerox could not buy a competitor to help it grow in that sector, because of anti-trust rules, and buying Fuji Photo Film Co Ltd’s Fuji Xerox stake was unlikely so another possibility was for Xerox to seek to buy Rank’s Rank Xerox stake – One day, Xerox might approach us, Gifford added, saying that no approach had been received as yet.

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