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Hewlett Packard to split in two

IT company Hewlett-Packard has said it plans to split into two separate listed companies.

The move will split HP's computer and printer businesses from its faster- growing corporate hardware and services operations.

HP said shareholders would own a stake in both businesses through a tax-free transaction next year.

The move will result in a significant reshaping of the company, which has more than 300,000 employees.

HP is the latest in a line of companies to spin off operations in an attempt to become more agile and capitalise on faster-growing businesses.

It employs over 4,000 people on the island of Ireland.