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Personal computer maker Dell is no longer to be a publicly traded company.
The world’s third-biggest maker of PCs plans to buy back all its shares, spending the equivalent of 18 billion euros.
Founder and Chief Executive Michael Dell said by going private he will be able to press ahead with plans to turn the company around by diversifying away from personal computers.
The money will come from Michael Dell himself, private equity firm Silver Lake, and a two billion dollar loan from Microsoft.
The company, once the world’s top PC maker, is struggling to defend its market share.
Analysts say the restructuring may entail job cuts and more costly acquisitions.
Rivals were quick to dismiss Dell’s move as disruptive, and one that will not be good for customers.
The number one PC maker Hewlett Packard said: “Dell has a very tough road ahead.”
More about: Computers, Industry, USACopyright © 2013 euronews
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