ConvergeNet Shares Hit 2-Week High on Talks: Johannesburg Mover

ConvergeNet Holdings Ltd. (CVN), a South African provider of information technology services, rose to a two-week high after announcing it was in talks that may affect the company’s share price.

The stock rallied 12 percent to 37 cents, the highest since July 16, as of 10:45 a.m. in Johannesburg.

“Shareholders are advised that ConvergeNet has entered into negotiations which, if successfully concluded, may have a material effect on the price of the company’s securities,” the Pretoria-based company said in a stock exchange filing today. “Shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.”

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net;

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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