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)

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