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HP resolving valuation problem, not its future

Ms Whitman's efforts are encouraging but they don't address HP's existential problem

New York

HEWLETT-PACKARD's plan to split in two leaves it just 10 per cent undervalued and looking for a future. Over the past three years, chief executive Meg Whitman has boosted the tech conglomerate and its stock by refraining from acquisitions, paying off debt and firing employees.