China greenlights Lenovo-IBM USD 2.3 bln server deal

Tuesday 8 July 2014 | 12:35 CET | News
The anti-monopoly bureau within China's Ministry of Commerce has approved Lenovo's proposed USD 2.3 billion deal to acquire IBM's low-end server business. Initially announced in January, the deal is scheduled for completion by year-end, Reuters reports, citing Lenovo chief executive Yang Yuanqing. The deal still requires U.S. regulatory approval. "We hope to complete the two deals by year-end," Yuanqing said. "The US government. . . and US Army are all our clients. There has been no issue and we will keep this tradition."

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Categories: Fixed / IT
Companies: Lenovo
Countries: China / World
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