International Business Machines Corp., which sold off...

International Business Machines Corp., which sold off its South African subsidiary last year, said it opposes a shareholder proposal to cease all sales to the former unit, now owned by local employees. As part of the sale, one of a series of divestitures by U.S. corporations reacting to protests against South Africa’s racial policies, IBM granted the firm, Information Services Management (Pty) Ltd., exclusive rights to sell IBM gear and services in South Africa. The Armonk, N.Y.-based company said in a proxy statement to shareholders that several church groups and individual stockholders had proposed IBM end sales to ISM.