Temenos shares rise on SAP bid talk
FRANKFURT, April 29
FRANKFURT, April 29 (Reuters) - Shares in Swiss banking software company Temenos (TEMN.S) rose on Thursday as traders pointed to talk Germany's SAP (SAPG.DE) may make a bid for the company.
"There is market chat SAP could go for Temenos. It would make sense on a business point of view," a Paris-based trader said.
By 1422 GMT, the volume on Temenos shares, that were 4.8 percent higher, represented 242 percent of the stock's 90-day average daily volume.
SAP, which declined to comment on the talk, was up 0.4 percent. (Repoting by Anika Lehmann and Nicola Leske in Frankfurt, Atul Prakash in London and Blaise Robinson; Editing by Michael Shields)
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