HP seeks to sell chunk of China networking biz: Report
Tech giant WLTM an Asian buyer, apparently
HP is reportedly on the lookout for an Asian suitor to buy a majority of the company's stake in its China-based H3C Technologies.
According to the Wall Street Journal, citing people familiar with the matter, HP is in tentative talks with private equity outfits in the People's Republic.
The apparent move comes after HP confirmed it was splitting its business in two earlier this month.
However, the firm has declined to comment on the WSJ story.
If the report is accurate, HP is seeking to sell at least 51 per cent of its stake in H3C – its corporate networking business, which could be worth as much as $5bn, a secret squirrel told the newspaper.
HP scooped up H3C when it bought 3Com in 2010. ®