IBM sells Lenovo shares at 6% discount

The fourth sell-down by IBM in just over a year will reduce its stake in the Chinese PC maker to 6.2%.

International Business Machines IBM last night sold HK$651.8 million $84 million worth of shares in Lenovo, reducing its stake in the Chinese PC maker for the fourth time in just over a year. The sale came on the back of a 17% gain in the past eight sessions, which pushed the share price above the level where IBM sold its previous batch of shares in late February.

The discount was twice as wide this time û 6% versus 3%...

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