BEIJING Dec 18 Lenovo Group (0992.HK), the
world's No.4 personal computer maker, said on Thursday the
current economic uncertainties made it impossible to acquire
Brazil's biggest computer maker, Positivo Informatica (PI) SA
(POSI3.SA), according to Xinhua's website.
Brazilian media have reported that both Lenovo and possibly
larger rival Dell DELL.O were interested in Positivo.
While acquiring Positivo was not now possible, Lenovo was
very interested in establishing a strategic cooperation with the
Brazilian company, said Xinhua, which provided no further
Lenovo is sitting on a big cash pile and has said it is open
to acquisitions amid an expected consolidation in the PC
industry, but did not name the parties in the talks, and said no
formal negotiations were under way at this stage.
According to J.P. Morgan, Lenovo has been looking into an
acquisition for some time to achieve its targeted scale of
growth, which organic growth was not likely to deliver. Lenovo
was unavailable for immediate comment.
(Reporting by Kirby Chien; Editing by Nick Macfie)