Wincor Nixdorf plays down talk of acquisition by Diebold

Wincor Nixdorf plays down talk of acquisition by Diebold

German banking systems company Wincor Nixdorf has denied press reports that it is in talks about a takeover by US rival Diebold.

This week, citing sources, the Frankfurter Allgemeine Zeitung newspaper reported that the two companies were in talks about a potential acquisition.

In a statement, Wincor Nixdorf says: "According to the management team, keeping Wincor Nixdorf independent is the best course of action to create customer, shareholder and employee value.

"We are not in merger or acquisition negotiations."

In April the German firm outlined plans to lay off 500 staff and shift manufacturing to cheaper Asian markets after reporting a 50% drop in profit for the first half of the year.

"We have initiated the restructuring program with the clear goal to preserve Wincor Nixdorf’s autonomy," says this week's statement.

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