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Friday, February 18, 2011

IBM sells Lenovo shares worth $265 mln -term sheet, (NYSE: IBM), (NYSE: C)

IBM (IBM.N) has sold $265 million worth of Lenovo (0992.HK) shares at up to a 4.1 percent discount, according to a term sheet seen by Reuters. IBM sold 435.72 million Lenovo shares at a price range of HK$4.68 to HK$4.71 per share, according to the term sheet. The sole bookrunner was Citi (C.N). (Reporting by Alison Lui; Editing by Ken Wills)