- Hewlett-Packard (NYSE:HPQ) agrees to sell a 51% stake in its China-based data networking business to Tsinghua Unigroup, says a spokesperson for the Chinese P-E fund's parent company.
- H-P had valued the H3C Technologies unit at ~$5.5B and had sounded out ~10 Chinese prospective buyers since putting it on the block a year ago.
- The companies reportedly signed a letter of intent to cooperate on April 23, and have been waiting for approval from China’s National Development and Reform Commission.