Tags: China | Lenovo | IBM | unit

China's Lenovo Said in Talks to Buy IBM Unit

Monday, 20 Jan 2014 07:21 PM

China's Lenovo Group Ltd. said it was in preliminary negotiations with a third party in relation to a potential acquisition but added that no material terms have been agreed.

Lenovo, the world's number one manufacturer of PCs, has resumed discussions to buy International Business Machines Corp.'s (IBM) low-end server unit, a source familiar with the matter told Reuters.

"The company has not entered into any definitive agreement in relation to the potential acquisition," Chief Executive Officer Yang Yuanqing said in a filing to the Hong Kong bourse early on Tuesday.

Lenovo said it made the statement in response to reports regarding a possible acquisition by the company of a certain computer server business. It gave no further details.

Lenovo and IBM were in discussions to buy the division last year, but no deal was made as they couldn't agree on a price, sources have said.

© 2017 Thomson/Reuters. All rights reserved.

 
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China's Lenovo Group Ltd. said it was in preliminary negotiations w for an acquisition, and a source told Reuters the talks involved IBM's low-end server unit.
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2014-21-20
Monday, 20 Jan 2014 07:21 PM
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