Monday, November 13, 2006

IBM to buy a bank?

It would appear from the Associated Press that IBM are teaming up with Citigroup to buy a bank!

Quite clearly, I have no inside knowledge of this deal but, if true, it sounds like it could be a great idea. Guangdong Development Bank, it is reported, is financially weak and I it may be the case that its IT systems would benefit from work. Assuming this is so, IBM and a large bank could, together, engineer quite a transformation.

This will be one to watch.

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