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Tech Industry

Short Take: HP buys out Samsung's stake in venture

Hewlett-Packard said it will purchase Samsung Electronics' 45 percent share in the companies' 13-year-old joint venture, HP Korea, for $36 million. Samsung said it will use the proceeds to improve its financial structure and cash flow. As reported by Reuters, HP said it agreed to buy its partner's 45 percent share to aid Samsung's efforts to attract foreign funds.

Hewlett-Packard said it will purchase Samsung Electronics' 45 percent share in the companies' 13-year-old joint venture, HP Korea, for $36 million. Samsung said it will use the proceeds to improve its financial structure and cash flow. As reported by Reuters, HP said it agreed to buy its partner's 45 percent share to aid Samsung's efforts to attract foreign funds.