Cisco Says it Can Seal the Tandberg Deal

Cisco says it now controls enough shares of Norwegian videoconferencing company Tandberg to complete the acquisition, reports Bloomberg.

Under Norwegian law, it must acquire 90 percent of shares. Cisco says it has control of 89 percent of shares, and according to a Dow Jones story in The Wall Street Journal, it bought another 2 percent on the open market.

Cisco was forced to raise its bid from $US3 billion to $3.4 billion in mid-November when shareholders balked at the price.