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China's Lenovo says will not buy Positivo

Thu Dec 18, 2008 2:04am EST

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BEIJING, Dec 18 (Reuters) - Lenovo Group (0992.HK), the world's No.4 personal computer maker, said on Thursday it had agreed with Brazil's biggest computer maker, Positivo Informatica (PI) SA (POSI3.SA), that an acquisition by Lenovo was not now possible.

"Lenovo and Positivo agree that given the current economic turmoil and uncertainties, it is not feasible to reach an agreement on a transaction at this time," Angela Lee, a Lenovo spokesperson based in Hong Kong, told Reuters.

While acquiring Positivo was not now possible, Lenovo and Positivo were very interested in establishing a strategic cooperation, said Lee.

Brazilian media have reported that both Lenovo and possibly larger rival Dell (DELL.O) were interested in Positivo. ($=6.83 yuan) (Reporting by Kirby Chien; Editing by Nick Macfie)



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