IBM sells off Lenovo shares

[D_o_S]

The Inquirer reports that IBM has sold off more than a quarter of its shares in the Chinese computer maker Lenovo.

Lenovo gave IBM the shares as part payment when it bought IBM's PC outfit last year.

IBM sold 300 million shares at a fairly low price, triggering a seven per cent share slide before there was a suspension in sales.

IBM made $123 million by selling the shares which made up about 3.5 percent of Lenovo's holdings.

Lenovo had seen its stock increase in value this week, unfortunately, IBM's sale has wiped out most those gains.

Source: The Inq (http://uk.theinquirer.net/?article=37448)

[Alec§taar]

IBM's always been, imo @ least, more "big iron" centric than they ever were "small computer system" (PC's) centric.

I can see them doing this...

E.G.-> Os/2 was a really NICE OS for its day I felt, & not hard to work w/ & had GREAT midrange/mainframe connectivity to boot, but they gave up on it.

APK

P.S.=> I suppose from their standpoint, it makes sense - PC's probably aren't a MAJOR PART of their profit centers, whereas zOS type stuff, is & always has been... apk

[WarEagleAU]

Im still saddened by them selling their pc business anywho...