VMware spinoff to help Dell cut its debt load of €40bn

Michael Dell said Dell and VMware will remain important partners following Dell's spinoff of its 81% stake in VMware.

Dell plans to start spinning off its huge 81% stake in VMware, the software producer that has a significant European presence in Cork, creating two publicly traded companies and raising cash to pay down debt. 

The spinoff will unwind, at least in part, a consolidation created five years ago in Dell’s $67bn acquisition of VMware’s parent, EMC.