Six years after Lenovo Group acquired IBM’s PC business, the US information technology giant has offloaded the last of the Lenovo shares that it received as part-payment. The sale took place after the Hong Kong market closed on Friday and enabled IBM to raise HK$2.05 billion $263 million.
This was the sixth sale of Lenovo shares by IBM through the capital markets and the first since July 2008 when it sold $77 million worth of shares that brought its stake below the 5% disclosure threshold. This meant it no longer had to tell the market when it sold shares and many investors probably assumed that it had divested its remaining stake...
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