PracticeConsultingAccenture could pull float plans

Accenture could pull float plans

Accenture has scrapped its plans for a £14bn float in late June because of market conditions.

Partners at the consultancy firm are instead expected to opt for a flotation next year, according to weekend reports.

It is thought that Accenture, which divorced from Andersen last year, has sufficient funds to try and see out an industry-wide slowdown in consulting revenues.

The decision follows KPMG Consulting’s debut on the stock market in February. Although initially successful with the share price moving as high as $24, the price has since fallen below $11 reflecting falls across American markets.

The firm, which has remained tight-lippped about its plans, said it had made no decision and continued to consider its future.

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