IBM sells some of its stake in Lenovo

US based tech giant IBM has revealed that they have sold some of its stake in the Chinese PC maker Lenovo.

The company has now offloaded $83.6 million worth of stock at a 6 percent discount.

This deal was carried over by CitiGroup. The deal sees their share in the company go down by around 1.3 percent.

IBM now has a 6.5 percent stake in Lenovo.

Lenovo acquired the PC business from IBM couple of years ago. IBM has been offloading the stake in the company ever since the lockup period lapsed.

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