April 23, 2010 / 5:25 AM / 7 years ago

HTC declining Palm bid, leaves Lenovo in the field-source

HONG KONG, April 23 (Reuters) - HTC (2498.TW), the world’s No.5 smartphone brand, is declining to bid for Palm PALM.O after reviewing the company’s numbers, a source said on Friday, leaving PC brand Lenovo (0992.HK) as the last major Asian suitor.

“There just weren’t enough synergies to take the deal forward,” said the source with direct knowledge of the matter, who declined to be named because the deal had not yet been made public.

This leaves Lenovo, the world’s No.4 PC brand, as the only major Asian bidder expected to show interest in Palm, after a Huawei [HWT.UL] source said talks had stalled, and ZTE’s (0763.HK) chairman told Reuters it had not been approached for a deal. [nTOE63E09I]

HTC Chief Financial Officer Cheng Hui-ming declined to comment.

((Reporting by Kelvin Soh; Editing by Chris Lewis))

((kelvin.soh@thomsonreuters.com; +852 2843 6345; Reuters Messaging: kelvin.soh.reuters.com@reuters.net))

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