China’s Ministry of Commerce will reportedly allow IBM to sell its low-end server business to Lenovo Group in a $2.3 billion transaction.
Reports say MOFCOM approved of the acquisition, first announced in January, despite recent reports that US national security could be at stake due to the deal.
The buyout remains subject to regulatory approval by the US, and experts expect a strenuous review of the deal because of security concerns. Critics say China’s Lenovo could open doors for cyberspies into US government servers.
But Lenovo chief executive Yank Yuanquing said that the security concerns are unfounded and said he still expects the deal to close by the end of the year. “If you look at our history, with domestic and overseas clients, there have never been any issues regarding security,” the executive said.
Full content: The VAR Guy
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Geradin Partners Expands Paris Office with Key Hire
Aug 30, 2024 by
CPI
Judge Accuses Google of ‘Clear Abuse’ in Antitrust Case Over Deleted Employee Chats
Aug 29, 2024 by
CPI
Hong Kong Cleaning Company Employee Charged in Historic Antitrust Investigation Case
Aug 29, 2024 by
CPI
Inside the Yelp Suit: Allegations of Google’s Abuse of Search Power
Aug 29, 2024 by
CPI
AI Safety Bill Clears Hurdle in California, Heads to Governor’s Desk
Aug 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich