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China approves Lenovo, IBM $2.3 billion server deal

Stock MarketsJul 04, 2014 06:13AM GMT Add a Comment
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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.

(Reporting by Paul Carsten)

China approves Lenovo, IBM $2.3 billion server deal
 

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