Feeds

IBM hits Lenovo with $123m stock sale shocker

You didn't get our email?

Choosing a cloud hosting partner with confidence

IBM hit Lenovo with a jarring share sale, unloading $123m of stock in the PC maker.

Shares of Lenovo dipped seven per cent today on the Hong Kong markets after word of IBM's sale reached investors. Lenovo requested that trading of its shares be halted with the price at HK$3.2. The exact nature of IBM's sale came as a surprise to Lenovo, according to a spokeswoman, although the company did expect some action from IBM.

IBM shed 300m shares in the PC maker, reducing its stake in the company to 10 per cent from 13.2 per cent. The sale price of HK$3.2 per share was at the low-end of IBM's target, and the deal was handled by Citibank.

While IBM may have been a bit rude with the Lenovo offload, the companies remain allies in the PC market. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
French 'terror law' declares WAR on the INTERNET itself, say digi-rights folks
Liberté, Égalité, Fraternité: Two out of three ain't bad
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.