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HP sells stake in China unit for US$2.3b

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Hewlett-Packard said on Thursday it was selling a 51 per cent stake in its China-based server business, creating a joint venture with Tsinghua Holdings that will be a sector leader in China.

[NEW YORK] Hewlett-Packard said on Thursday it was selling a 51 per cent stake in its China-based server business, creating a joint venture with Tsinghua Holdings that will be a sector leader in China.

HP said it would sell the stake for US$2.3 billion, creating a new business called H3C worth US$4.5 billion that would be the leader in China in computer servers, storage and technology services.

AFP

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