Lenovo Won’t Confirm Bid For Brazil PC Maker

Chinese personal computer maker is discussing possible acquisitions but refused to confirm reports it is bidding for Brazil’s biggest PC manufacturer, Positivo Informatica SA.

BEIJING (AP) -- Lenovo Group said Thursday it is discussing possible acquisitions but the Chinese personal computer maker refused to confirm reports it is bidding for Brazil's biggest PC manufacturer.

In a statement issued through the Hong Kong stock exchange, Lenovo chairman Yang Yuanqing said the company "has certain preliminary discussions with independent third parties regarding potential investment opportunities."

Yang said that "no negotiation has been carried out" and did not identify possible acquisition targets.

Lenovo spokesman Jay Chen declined to comment on reports that Lenovo is bidding for Brazil's Positivo Informatica SA.

An acquisition in Brazil would help to advance Lenovo's strategy of expanding in faster-growing emerging markets.

Lenovo, based in Beijing and Morrisville, North Carolina, acquired IBM Corp.'s PC unit in 2005.

In 2007, Lenovo broke off an effort to expand in Europe by acquiring Packard Bell NV of the Netherlands, which was later bought by rival Acer Corp. of Taiwan.

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