Dell Inc. said it is in talks with a government-owned entity in Dubai about establishing a joint venture to further increase the personal-computer maker's sales in the Middle East.
The possibility of a relationship with Tecom Investments emerged in comments by Michael Dell, the company's chief executive, during a news conference in Dubai. Mr. Dell didn't elaborate on the discussions, but said he would be amenable to an investment in his company by Tecom.
David Frink, a Dell spokesmen, said the talks with Tecom -- which owns a Dubai business park where Dell rents office space -- are about furthering Dell's current business plans. "Any discussion of investment just means more investment in our presence in Dubai," he said. He said Mr. Dell's statement about being open to an investment from Tecom was not in reference to any specific deal being considered.
Tecom is owned by the Dubai government via Dubai Holding LLC and Dubai International Capital, and operates a number of business parks in the region, as well as owning parts of various technology companies.
Technology companies have been receptive to investments from Middle East national companies of late. For example, last November, No. 2 chip maker Advanced Micro Devices Inc. sold 8.1% of itself to an Abu Dhabi-based sovereign-wealth fund managed by Mubadala Development Co.
Dell shares were down 23 cents at $19 as of 4 p.m. Tuesday in Nasdaq Stock Market trading. The shares rose in after-hours trading to $19.34. |
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