Infosys denies stake sale

whole-foods-steakOutsourcing outfit Infosys has reacted angrily to reports that its co-founders of Infosys are exploring a sale of their entire 12.75 per cent stake in the company.
Reports first popped up in India where it was widely reported as being the “end of an era”.

The move is said to have been triggered by N R Narayana Murthy and Nandan Nilekani’s unhappiness over the manner in which the company has been run since their exit three years ago.

Instead of a war of attrition with the company’s board and management, the promoters appear to have veered around to the view that it might be better to make a complete break from the company they founded in 1981 and took public in 1993.

However, Infosys insists that the story is pants. This speculation has already been categorically denied by by Murthy and Nilekani.

“The company further reiterates that it has no information on any such development. We would like to appeal to the media not to fuel such speculative stories as they are likely to harm the interests of the company and all its stakeholders,” the outfit said.

It might have been motivated by the fact that since the news leaked out, the share price of Infosys has tanked.