The head of the Oracle software firm, tycoon Mr Larry Ellison, is weighing an estimated $1 billion bid to take control of troubled Apple Computer, according to US reports yesterday.

Mr Ellison said he and an investment group he is forming would make a decision based on reaction from Apple's major investors in the next few days.

The stock of Apple Computer Inc rose more than 11 per cent in heavy trading Thursday on the back of the Oracle report.

Apple earlier this month said it would slash 2,700 full time jobs, shed certain product lines and take a quarterly charge to revitalise its market performance. However, it said it would not affect the 1,500 people at its manufacturing and R&D plant in Cork.

The plant supplies all European demand for Apple products and spends an estimated £120 million in the Irish economy each year.