Dell Shares Rise 7% After Hours After Hinting At Potential VMWare Spinoff
July 15 2020 - 5:58PM
Dow Jones News
By Kimberly Chin
Shares of Dell Technologies Inc. rose nearly 7% after hours
Wednesday to $56.50 after the company said it is considering a
potential spinoff of its 81% equity ownership interest in VMWare
Inc.
Dell said it is looking at various options, including
maintaining its current ownership structure in VMWare as is.
A potential spinoff wouldn't occur before September 2021, the
company said.
The Wall Street Journal reported in June that Dell was examining
options including a spinoff in its stake in the cloud-software
giant.
VMWare's shares rose 3% in after-hours trading to $143.85
following the news.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
July 15, 2020 17:43 ET (21:43 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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