{"id":18357,"date":"2015-03-27T18:03:29","date_gmt":"2015-03-27T18:03:29","guid":{"rendered":""},"modified":"2015-03-27T18:03:29","modified_gmt":"2015-03-27T18:03:29","slug":"Hewlett-Packard-Coming-Close-To-Chinese-Sale-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=18357","title":{"rendered":"Hewlett-Packard Coming Close To Chinese Sale??"},"content":{"rendered":"

Wow! China is really buying up America!<\/strong> It’s been a long time coming with its Chinese expansion plans,<\/a> but to sell?<\/p>\n

Shares of Hewlett-Packard Company were down Friday, as sources said the company is nearing a deal to sell control of its data-networking business in China, H3C Technologies, to Tsinghua Unigroup Ltd. Tsinghua Unigroup stands as the preferred bidder in an auction of 51 percent of the business unit, which is roughly $5 billion.<\/strong><\/p>\n

JPMorgan’s Rod Hall sees this move having a slight positive impact on Hewlett-Packard. He cites the Wall Street Journal, which says, \u201ca deal between the two parties, which could also include a separate server operation, may still be a few weeks away and there is no guarantee that another bidder won\u2019t re-emerge. Tsinghua Unigroup had been competing with other bidders for the business, which is worth roughly $5bn in total, including China Huaxin Post and Telecommunication Economy Development Center.\u201d<\/p>\n

JPMorgan analysts believe that \u201c~40% of HP\u2019s switching revenue of ~$2.6bn is generated in China and mostly through H3C. However, margins in the business may be low due to networking operating margins of just 15% for HPQ.”<\/p>\n

Source Bloomberg<\/em>
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