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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 22.12

-0.7%

Jan 2 9:30 AM EST

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To: PCSS who wrote (466)	5/19/2002 12:07:51 PM
From: Elwood P. Dowd	of 4345

KPMG May Sell Consulting Unit for $495 Mln, London Times Says By Nick Nabarro Washington, May 19 (Bloomberg) -- KPMG LLP, the third-largest U.S. accounting firm, may next week announce the sale of its consulting unit for 340 million pounds ($495 million), the Sunday Times reported, citing no sources. Potential buyers include KPMG Consulting Inc., which split from the auditing unit in 1999, International Business Machines Corp. and Compaq Computer Corp., which was acquired earlier this month by Hewlett-Packard Co., the newspaper said. Rival accountancy firms such as Deloitte & Touche LLP are also selling their consulting businesses. Arthur Andersen LLP is on trial in Houston charged with obstructing justice by shredding documents related to its audit of Enron Corp. Enron also employed Andersen as a consultant. Closely held KPMG had $3.4 billion in U.S. revenue in the fiscal year ended last June 30, and $11.7 billion in international revenue. (Sunday Times 5-19 B-3)

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