Dell shares shoot up on plan to sell VMware unit
The spinoff of its 81% stake in VMware, first proposed in a filing last July, will help Dell lower its long-term debt of $41.62bn
15 April 2021 - 16:51
Bengaluru — Shares of Dell rose nearly 8% in premarket on Thursday, a day after the PC maker said it would spin off its majority stake in cloud computing software maker VMware, which would trim down its business and make the firm nimbler.
The spinoff of its 81% stake in VMware, first proposed in a filing last July, would also help Dell lower its long-term debt of $41.62bn, much of which was taken on during its 2016 acquisition of data management firm EMC...
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