Deloittes unlikely to float CSL this spring
CSL, the outsourcing company owned by partners at Deloitte & Touche, is now unlikely to float this spring.
Despite an earlier statement from Deloitte & Touche saying it was ‘likely’ the float would take place in spring 2001, CSL this week said no firm decision had been taken on the timing of the flotation.
But Glenn Timms, chief operating office of CSL, confirmed the flotation was still under active consideration, saying: ‘The timing was aspirational on their [Deloittes] part, not a definite commitment.’
Deloittes announced in July last year that it had decided to float the outsourcing company, setting a possible date of spring this year and has since transferred the ownership of the business from the firm to its partners and the management of CSL.
At the time, market analysts put a figure of £200m on the possible float. Timms denied the current turbulence in the stock market would have a bearing on the flotation. He said: ‘There is still a strong demand for business process outsourcing companies.’
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