Having hotly denied press reports in Italy that it is about to do a deal with Cap Gemini Sogeti SA on its Olivetti Information Systems software and services arm (CI No 1,814), Ing C Olivetti & Co SpA now says that it is in talks with the French software and services giant. Chief executive Carlo de Benedetti, rebuffed in his approach to buy Finsiel SA from the state holding company, confirmed that the company is in talks with Cap Gemini, adding that they had not yet reached the letter of intent stage. Cap Gemini confirmed the talks but stressed that talks were also going on with other companies. Olivetti wanted Finsiel, which does most of its business with the public sector, to give its software and services arm critical mass, believing that it is too small on its own.
