Danka negotiates deal with Kodak

Danka negotiates deal with Kodak

SHARES IN Danka Business Systems jumped 11p to 66p yesterday as the troubled photocopier distributor negotiated a deal with Eastman Kodak that will cut Danka's payment obligations to the US giant by more than $150m.

Under the new deal, Kodak will still supply parts and supplies to Danka, but has scrapped the obligation that Danka buy a certain amount every year. The two companies are still reviewing their overall working relationship.