ROUND ROCK (dpa-AFX) - Dell Technologies disclosed in a regulatory filing that its board is evaluating potential business opportunities, including an initial public offering, Business combination with VMware, Business as usual - continue with the existing ownership structure.
Dell said, 'We are in excellent financial condition. We have repaid approximately $10B of gross debt since the close of Dell/EMC. We are also excited about the positive impact of tax reform on the US economy and believe any impact for Dell Technologies, based on what we know today, will be more than manageable.'
Dell said, 'We would normally keep our deliberations confidential until a particular course of action is determined, but because Dell Technologies owns ~82% of VMware, we are required to make a public filing with the U.S. Securities and Exchange Commission.'
In response to Dell's disclosure in a filing with the SEC, Pat Gelsinger, Chief Executive Officer, VMware, said, 'We are not in a position to speculate on the outcome of Dell's evaluation of potential business opportunities. Dell has been a tremendous partner since it became our majority owner and as we've accelerated our growth. We look forward to Dell's continued support as we work to execute our growth plans in the years ahead.'
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