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Lenovo CFO: Lenovo considering possible RIM buyout

updated 02:33 pm EST, Thu January 24, 2013

Move would bolster Lenovo's mobile presence, help shift from PCs

In an effort to enhance its mobile business, electronics manufacturer Lenovo is allegedly considering a deal with BlackBerry manufacturer Research in Motion (RIM). A report published earlier today by Bloomberg claims that RIM began a review of options last year after losing most of its marketshare to competitors, and reports that the Chief Financial Officer Wong Wai had spoken to RIM and bankers about combinations of acquisitions or strategic ventures.

"We are looking at all opportunities -- RIM and many others," the CFO said today in an interview at the World Economic Forum's annual meeting in Davos, Switzerland. "We'll have no hesitation if the right opportunity comes along that could benefit us and shareholders."

Wong amplified his remark by saying that the PC manufacturer does have a team working on ideas to grow the company, including acquisition attempts. Neither Wong nor RIM representatives had any remarks about timetables or even if a bid was pending.

On reports of the takeover discussions, RIMs stock has risen to $17.71, up from $16.58 at the start of trading this morning, with above-average trade volume. The stock briefly rose to $18.32 shortly after reports surfaced of the considerations by Lenovo.

Any purchase attempt would require approval from both US and Canadian regulators, as both nations operate secure mobile networks provided by the Canadian mobile operator. The Canadian Industry Minister, Christian Paradis, said earlier this week that he would rather see RIM grow "organically" than subject it to takeover by the Chinese manufacturer.



By Electronista Staff
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