Lenovo's parent company moves toward denationalization

The Chinese Academy of Sciences, one hundred percent state organization and the largest shareholder of Holdings, intends to reduce its presence in the holding. The decision is explained by the desire to increase the share of private capital in Legend so that market mechanisms play a large role in the management, management and marketing of its subsidiaries. In this regard, a 29% stake in Legend Academy will sell China Oceanwide Holdings Group to a private conglomerate for 2.76 billion yuan (404 million US dollars). Legend provides strategic planning and management in its subsidiaries, including Lenovo.

Lenovo, the fourth largest PC maker in the world and a subsidiary of the Legend holding, has begun restructuring and has sent the main force to the markets of developing countries. The last three quarters of this year, the company ended up with losses. The Academy of Sciences will retain a 36% stake in Legend and remain the company's largest investor. However, the Academy intends to further reduce the share of its shares in the holding and by 2010 it expects to hold no more than 35%. The fact that Legend plans to trade on the stock exchange can contribute to a decrease in the share of state-owned companies in Legend.

via pcworld.com