Lenovo chief outlines global plan after IBM takeover
AFP, Singapore
Lenovo Group's takeover of IBM's PC division will fast-track the Chinese firm's global expansion plans by 10-20 years and make it a global technology force, the company's president said here Wednesday. After addressing a business forum in Singapore, Yang Yuanqing also moved to reassure US authorities who are still to give the green light to the deal that the takeover would not pose any security risks for the United States. "Probably, there are more PCs sold a year than TVs throughout the world," Yang told reporters after a speech that outlined his plans for the new Lenovo. "You know and I know the technology content in the PCs. Therefore, I don't think that it will pose any security threat to the US." Lenovo, China's biggest personal computer maker, stunned the world in December when it announced the purchase of IBM's global PC operations for 1.75 billion dollars. However the Committee on Foreign Investments in the United States (CFIUS), an inter-agency panel, is scrutinising the deal amid fears the technology transfers involved may pose national security concerns. "So far we have not heard any word from the US government it won't approve (the deal)... we will work with the authorities to help with the process." In his speech, Yang said the new firm would take advantage of the assets of both businesses by expanding in the emerging markets of China and India using Leonovo's expertise while consolidating IBM's reach elsewhere in the world.
|