IBM Shed Half Its Stake in Kyndryl and Plans to Sell the Rest Soon

IBM has swapped half of its nearly 20% stake in the managed IT services firm Kyndryl to Goldman Sachs, securities filings show.

As part of the IBM (ticker: IBM) spinoff of Kyndryl (KD) completed last November, Big Blue held on to a 19.9% stake, but promised to sell it within 12 months of the completion of the spin. 

Kyndryl shares have struggled…

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