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.

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