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China approves Lenovo, IBM $2.3 billion server deal

Published 07/04/2014, 02:13 AM
Updated 07/04/2014, 04:01 AM
China approves Lenovo, IBM $2.3 billion server deal
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BEIJING (Reuters) - The Chinese Ministry of Commerce's anti-monopoly bureau has approved Lenovo Group's proposed $2.3 billion deal to buy IBM Corp's low-end server business.

The deal, announced in January, is expected to be completed by the end of the year, said Lenovo Chief Executive Yang Yuanqing on Wednesday, but still requires U.S. regulatory approval.

© Reuters. Lenovo Chairman and CEO Yang gestures beside CFO Wong during a news conference in Hong Kong

(Reporting by Paul Carsten)

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