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(From SinoCast China IT Watch)
XIAMEN, December 28, SinoCast -- Lenovo, the biggest PC and mobile phone maker in China, signed on December 26 the Share Transfer Agreement with Xoceco, a traditional mobile phone giant in Xiamen, Fujian Province, Southeastern China, and had taken over the remaining 19.2 percent of the stakes held by the latter in Lenovo Mobile, a joint venture between the companies.
Lenovo spent CNY 72 million cash on the deal which has now made it the sole shareholder of Lenovo Mobile.
Lenovo representatives told local media that the acquisition will help Lenovo better control its mobile phone service now that it has become one of …