IBM sold 15 per cent of its current holdings in Lenovo for HKD628.6m, BusinessWeek reports. The U.S. company received the stake when it sold its PC division to the Chinese computer maker in 2005. However, IBM has now halved its ownership, which currently stands at around 7.5 per cent. The shares have been sold for more than double their value when acquired.
Lenovo is the world's fourth-largest PC maker- and its has, according
to some estimates - a 29 per cent market share in China. In its latest
move to gain a foothold in overseas markets, Lenovo confirmed that it
had entered a non-binding agreement to buy PC manufacturing
facilities in Mexico from US-based Sanmina-SCI Corp.
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IBM sold 15 per cent of its current holdings in Lenovo for HKD628.6m, BusinessWeek reports. The U.S. company received the stake when it sold its PC division to the Chinese computer maker in 2005. However, IBM has now halved its ownership, which currently stands at around 7.5 per cent. The shares have been sold for more than double their value when acquired.
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