HP sells US2.3b China unit stake to forge partnership with Tsinghua Unigroup

  • Business Premium
  • Friday, 22 May 2015

HONG KONG: Hewlett-Packard Co will sell a controlling 51% stake in its China-based data-networking business to China's Tsinghua Unigroup for at least US2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.

State-backed Tsinghua Holdings' subsidiary Unisplendour Corp Ltd will acquire 51% of HP's H3C Technologies for at least US2.3 billion, Unisplendour said in a statement to the Shenzhen stock exchange late on Thursday.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

Ringgit opens lower as expectation of Fed rate hikes support US$ Premium
Bursa Malaysia tracks sharp selling in US markets Premium
Structural challenges for BAT in smoking 'Generation End-Game' Premium
Trading ideas: Ancom, NWP Holdings, KPower, SCIB, Eco World Development, GFM and Sunway Premium
Airlines scramble to rejig schedules amid US 5G rollout concerns Premium
Oil price hits 7-yr highs as global unrest stokes supply jitters Premium
Tesla investors urge judge to order Musk repay US$13bil for SolarCity deal Premium
Goldman profit hit by weaker trading, rising expenses; shares tumble Premium
GLOBAL MARKETS-Stocks sink, notably tech, as Treasury yields jump Premium
All eyes on China’s growth prospects Premium

Others Also Read