Home / Tech News / HP seeking buyers for corporate-networking business in China: WSJ (Sudarshan Varadhan/Reuters)

HP seeking buyers for corporate-networking business in China: WSJ (Sudarshan Varadhan/Reuters)

Fri Oct 24, 2014 5:46pm EDT Tweet Share this Email Print A Hewlett-Packard logo is seen at the company’s Executive Briefing Center in Palo Alto, California January 16, 2013. Credit: Reuters/Stephen Lam Related News U.S. TV startup Roku to confidentially file for IPO: WSJ 4:39pm EDT RPT-Market Chatter- Corporate finance press digest – Oct 24 1:50am EDT Market Chatter- Corporate finance press digest – Oct 23 Wed, Oct 22 2014 Private capital gets more bang in China as economic reforms step up Wed, Oct 22 2014 Delphi Automotive looking to sell thermal unit for $1 billion: Bloomberg Wed, Oct 22 2014 Analysis & Opinion HP shareholder wants scrutiny of Wachtell role in controversial settlement Review: The worst of both Mao and markets (Reuters) – Hewlett-Packard Co ( HPQ.N ) has begun sounding out private-equity firms in China to buy its corporate-networking business in the country, the Wall Street Journal reported, citing people familiar with the situation. HP is expected to sell at least 51 percent of the business, H3C Technologies Co, which could be worth roughly $5 billion in a full sale, the business daily said. HP declined to comment on the report. The buyer likely needs to be based in China if the deal is to win Chinese government approval, the newspaper reported. Another Chinese technology company could also buy H3C, a major supplier of corporate data-networking gear in the country, although it is more likely to be sold to a private equity group, the Journal said, without naming any of the potential buyers. U.S. technology companies such as Cisco Systems Inc ( CSCO.O ), IBM Corp ( IBM.N ) and Microsoft Corp ( MSFT.O ) are facing challenges in China due to a backlash after revelations about U.S. government surveillance programs. HP, which wants to continue using H3C’s low-cost manufacturing, may retain a sizable minority stake in the business in any deal, the Journal said. (Reporting By Sudarshan Varadhan in Bangalore; Editing by Savio D’Souza ) Tweet this Link this Share this Digg this Email Print Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data

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HP seeking buyers for corporate-networking business in China: WSJ (Sudarshan Varadhan/Reuters)

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