IBM divorces Lenovo again with block trade

US computer giant books a loss selling $150 million worth of Lenovo shares in a block trade that ends an 11-year shareholding relationship with its Chinese competitor.

IBM divorces Lenovo again with block trade

IBM ceased to be a shareholder in Lenovo for the second time in its history on Wednesday after executing a HK$1.17 billion $150 million clean-up trade.

The US computer manufacturer took advantage of improving equity sentiment to sell a 1.6% stake in the Chinese computer giant through an accelerated bookbuild led by Goldman Sachs.

However, the company still netted a loss from the trade since it first purchased the shares for...

To continue reading, please login or register for free

Click for more on: lenovo | ibm | block | hong kong | goldman sachs

Print Edition

FinanceAsia Print Edition

CONFERENCES