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Lenovo shares suspended, says source.

The Daily Deal

| December 07, 2004 | COPYRIGHT 2003 The Deal LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Reuters

HONG KONG -- Shares of Lenovo Group Ltd. were suspended on Monday, Dec. 6, as China's largest computer maker negotiated a possible deal to buy IBM Corp.'s PC-making business for up to $2 billion, a source familiar with the situation said.

Lenovo is battling intense competition in its home market, and a deal would mark a breakthrough in its efforts to build its business overseas. It would also make the company part of a small but growing group of Chinese manufacturers buying overseas brands.

The source told Reuters that Lenovo and IBM were in "serious" talks but gave no other details. A Lenovo spokeswoman declined comment after its…

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