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China: Lenovo optimistic on big-time merger plans

 |  July 2, 2014

The world’s largest personal computer supplier Lenovo is optimistic regarding its plans to fulfill its two largest acquisitions by the end of this year, say reports.

China’s Lenovo said Tuesday that there are no changes to their timetable to complete deals involving IBM and Motorola Mobility. The company is looking to buy Motorola Mobility for $2.91 billion, and to buy IBM assets for $2.3 billion. The deals were each announced separately earlier this year.

The mergers remain subject to scrutiny from competition authorities in the US, mainland China and the EU, as well as the US’s Committee on Foreign Investments.

According to reports, some experts may be surprised at Lenovo’s optimism despite reports of security concern regarding the IBM deal.

Further, five Chinese military officers were recently indicted for alleged cyber-spying on US companies. Some experts say that development could threaten Lenovo’s deals.

But the company said it is still looking to close the transactions by the end of the year, reports say.

Full content: South China Morning Post

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