Lenovo secures China nod for $2.3bn IBM deal

July 7, 2014 4:01 am


Lenovo Group has secured the approval of the Chinese Ministry of Commerce’s anti-monopoly bureau for its proposed $2.3bn deal to buy IBM Corp’s low-end server business, Reuters has reported. The deal, which still requires US regulatory approval, is expected to be completed by the end of the year, said Lenovo chief executive Yang Yuanqing last Wednesday.

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