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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (90771)	4/18/2001 11:48:38 PM
From: Captain Jack	Respond to of 97611

NEW DELHI, April 19 (Reuters) - U.S.-based Compaq Computer Corp <CPQ.N> has joined the race to bid for a controlling stake in the Indian government owned information technology firm CMC Ltd <CMC.BO>, a financial daily said on Thursday. The Financial Express said, citing unnamed industry sources, that Compaq is being advised by JP Morgan Chase, though it was unclear whether the company has been among those shortlisted for the next stage of privatisation. Compaq could not be immediately reached for comment. The last date of submitting the expression of interest to buy the government stake was March 30. The Indian government, which owns more than 80 percent of CMC, said in February it planned to sell 57.3 percent to a combination of a strategic partner, employees and others. Earlier this month, another U.S.-based computer giant Hewlett Packard and two other leading Indian IT companies, Tata Consultancy Services and Wipro Ltd <WIPR.BO>, among others had bid for the stake. Set up by the government in 1976, CMC's focus was to provide maintenance services. CMC does business mainly with state-owned companies, providing its expertise in software services. It also has education centres across the country. CMC ended 8.63 percent higher at 250.40 rupees on Wednesday, while the 30-share benchmark index <.BSESN> was up 3.82 percent. ((New Delhi equities, +91-11-301-2024, fax: +91-11-301-4043, shailendra.bhatnagar@reuters.com)) REUTERS