China's Lenovo Eyes Overseas Options Including M&A
China's top personal computer maker Lenovo Group is exploring a range of options including acquisitions to boost its overseas business, a senior executive said on Tuesday.
"We are discussing different options in different countries and markets," Anders Cheung, vice president for corporate development, said on the sidelines of a financial forum in Shanghai.
"We are still very open to all possibilities. Acquisitions are one way to go," Cheung said, adding that Lenovo had no plans for domestic acquisitions for the time being.
Lenovo, still in the process of integrating an ailing European arm inherited from IBM in 2005, said in August it was in exclusive talks to take over Paris-based PC vendor Packard Bell to spearhead a consumer expansion, allowing it to quickly grab market share.
But those plans were dealt a blow when Gateway , itself the target of a $710 million takeover by Taiwan's Acer, later said it would exercise a right of first refusal to buy Packard Bell, in a deal which would unseat Lenovo as the world's No. 3 PC maker.
Lenovo is in an intense battle for consumers with global leaders Dell and Hewlett Packard .