Home / Business / Technology & Telecom Tools: Save | Print | E-mail | Most Read | Comment
Strategic alliance new target for Lenovo
Adjust font size:

Lenovo Group Ltd, China's biggest maker of personal computers, said Thursday it will seek to enter a "strategic alliance" with Positivo Informatica SA, after ending talks to buy the Brazilian company.

Lenovo will continue to evaluate other acquisition targets to boost growth, spokeswoman Angela Lee said from Hong Kong, according to Bloomberg News. Turmoil in the world economy meant an acquisition of Positivo was "not feasible at this time," she said.

Positivo, Brazil's biggest computer maker, yesterday said it rejected an offer of 18 reais (US7.61) per share from Lenovo because the bid wasn't "attractive in the long term." The Brazil-based company's shares fell by a record 26 percent to 8.14 reais in Sao Paulo trading on Wednesday after a report said Lenovo dropped its takeover bid.

Lenovo last week said it was in "preliminary" talks on possible investments and acquisitions. The company, which moved its headquarters to the US after buying International Business Machines Corp's PC unit in 2005, is seeking to bolster earnings after reporting a 78-percent drop in second-quarter profit on weakening demand from corporate clients. Its shares rose 2.7 percent to HK$2.28 (29 US cents) in Hong Kong trading yesterday.

(Shanghai Daily December 19, 2008)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Lenovo passes up
- Lenovo seeks Brazilian PC maker
- Lenovo mulls acquiring Brazilian PC maker
- Lenovo to cut 50 jobs at its US headquarters
- Lenovo hit by falling demand in the US

Dec. 12 Beijing Caijing Annual Conference 2009
Dec. 13-14 Guangzhou Enterprise Development Forum
Dec. 20-21 Beijing 7th China Import & Export Enterprises Conference(CIEEC)

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?