Lenovo considering BlackBerry takeover

Beijing, Nov. 3 : Lenovo Group Ltd is actively considering acquisitions in the mobile consumer electronics industry, Yang Yuanqing, chairman and chief executive officer, has said.

Media reports claim that Lenovo is in talks with embattled BlackBerry Ltd on a merger possibly worth 4.7 billion dollars.

According to China Daily, Yuanqing said that mergers and acquisitions are always useful tools for the business to expand, and the company was open to deals that can boost their business.

Lenovo has long been rumored to be an active bidder for BlackBerry, which has been losing ground to Apple Inc and Samsung.

In mid-October, the Wall Street Journal reported that Lenovo signed a nondisclosure deal to examine the books of the Canadian smartphone maker.

The Chinese company is borrowing roughly 1.5 billion dollars from banks for the deal, the report added.

--ANI (Posted on 03-11-2013)

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