HP to sell stake in networking business

San Francisco

HEWLETT-PACKARD Co is seeking to sell part of its H3C Technologies Co networking subsidiary, a person with knowledge of the matter said.

The company plans to sell about 51 per cent of its stake in the Hangzhou-based business to an Asian buyer, said the person, who asked not to be identified because the process is private. H3C sells networking equipment and software products. The business is valued at around US$5 billion, the person said.