By Madeleine Acey, CBS MarketWatch
LONDON (CBS.MW) - Capgemini denied it was planning to sell its North American consulting business following a report in the New York Times on Friday that cited unnamed sources.
A spokesman for the French IT services group said chief executive Paul Harmelin "strongly denies" the potential sale of the unit.
He said, in response to questions on whether there was a review of the unit underway or cost cuts being considered, that Capgemini was concentrating on improving turnover and margins in its North American business.
Shares were up 4 percent at 24.85 euros in Paris.
Capgemini bought its loss-making North American business from accounting firm Ernst & Young for $11.1 billion in 2000; a sale now might fall short of $1 billion, the New York Times said.
The business employs 10,000 and generates around a third of Cap Gemini's $7 billion in revenue.