Compaq Message Board - Msg: 14308398

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Technology Stocks : Compaq

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To: Senator949 who wrote (84582)	8/31/2000 12:08:38 PM
From: rupert1	of 97611

I avoided mentioning it because I cannot remember. I think it is called called G-Tech, or something like that. It does a lot of the lotteries in the US. In the original bid 5-6 years ago, it is alleged by Richard Branson, that the CEO/Chairman tried to bribe him to drop his bid. When he reported this they sued him for libel in the High Court in the UK. They lost when the jury believed Branson. As a result the CEO/Chairman resigned so as not to contaminate the consortium - Camelot. Camelot won the contract. (There had been other allegations of bribery and sharp practice). This time around, the Lottery Commission - an independent overseeing body - decided that Camelot had relied too much on GTech and that GTech had not lived up standards. Its software failed and some of the smaller prize winners were underpaid. Instead of admitting this openly, GTEch tried to keep it secret and it was discovered only when an employee blew the whistle. Camelot has now won the right to a judicial review of the decision to stop its bid, and has said it will buy out GTECH's UK operations and make it a British company. But I think its bid si doomed. Everybody wants Branson including the commission. Most people want Camelot to admit defeat gracefully.

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