Contrary to interpretations in the French business press yesterday, Claude Andreuzza, president of IBM France SA, did not say that IBM is going to reduce its participation in Groupe Bull, an IBM spokeswoman told Computergram: in an article headlined IBM doesn’t exclude a disengagement from Bull La Tribune-Defosses, for example, quoted Andreuzza saying It wouldn’t bother us in the least to see our participation diminish. We are not the company’s banker (CI No 2,260): the spokeswoman said the quote was accurate, but that it was over-interpreted, adding that Andreuzza was talking about the IBM-Bull relationship being technological, rather than financial and that, therefore, contributing to a new round of funding was not in the plan; she said the reactions from Bull had been, of course, quite strong, and that IBM would probably issue an official statement; despite the disavowal, if IBM does not subscribe to the next round of financing, its stake will be cut.
