Troubled Olivetti will divest itself of its stake in Cambridge-based company Acorn, it emerged today.
The company is looking to liberate the 17 per cent stake it had in Acorn to find additional money. According to reports, Lehman Brothers will resell some of the stock for Olivetti.
The deal might be a short term gain for Olivetti, still reeling after former chairman Carlo De Benedetti was convicted for fraud and after the company' s dramatic restructuring.
Acorn holds a half share in chip designer ARM. The other half is owned by Apple and the ARM technology is being taken up by a number of manufacturers, including Psion and Digital, to produce fast personal digital assistants (PDAs).
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