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IBM gets a chunk of Lenovo

Lenovo has successfully bought a control stake of IBM's PC-making business for US$ 1.25 billion.

Most of the media coverage about this deal has neglected to highlight an important part of the terms: IBM is being paid half in cash and half in Lenovo stock. This means that Big Blue now owns about 18.5% of Lenovo.

There is a Xinhua report on the deal here.

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