Chinese computer maker Lenovo Group is said to be on the point of buying control of IBM's PC-making business for up to $2 billion (€1.34 billion).
In its first disclosure that a deal may be imminent, Lenovo said it was in acquisition talks with a major technology company.
It asked the Hong Kong stock exchange to suspend trading in its shares for a second day, reversing an earlier announcement that trade would resume yesterday.
"Such discussions are at an advanced stage but no definitive agreement or letter of intent has yet been signed," Lenovo said in a statement. "There can be no assurance that any such agreement or letter of intent will be signed."
An IBM spokesman declined to comment on Lenovo's statement or previous reports that the company that pioneered the personal computer industry is in talks to exit the business.
The Wall Street Journal said IBM would retain a minority stake in the business, which is estimated to generate about $10 billion a year in sales. The report, citing unnamed sources, said IBM would retain its PC service and financing businesses. - (Reuters)
