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China : LENOVO plans to take over IBM's low-end server.

On 21st January, Lenovo's share price has increased, on the back of reports the company is planning to come across a major deal with IBM.

As per the sources, Lenovo, the giant PC manufacturer in the world is now speculating to take over IBM's low-end server business.

But in a statement to the Hong Kong Stock Exchange, Lenovo added that "no material terms" had been agreed upon. It added that it had "not entered into any definitive agreement in relation to the potential acquisition".

"The diversification is definitely helping them sustain their growth at a time when PC sales have been slowing," Avinash Kalyana Sundaram, an analyst with research firm IDC told the BBC.

He added that a deal with IBM would help Lenovo to "push towards their aim of expanding their product portfolio".

On the Hong Kong Stock Exchange, Shares in Lenovo grew by 3.5 per cent before falling away towards the end of the session and ending up 2.75 per cent up for the day.

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Publication:Mena Report
Date:Jan 23, 2014
Words:182
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