China approves Lenovo, IBM $2.3 billion server deal

BEIJING Fri Jul 4, 2014 12:24pm IST

A view of the headquarters of IBM Japan in Tokyo March 18, 2010. REUTERS/Toru Hanai/Files

A view of the headquarters of IBM Japan in Tokyo March 18, 2010.

Credit: Reuters/Toru Hanai/Files

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BEIJING (Reuters) - The Chinese Ministry of Commerce's anti-monopoly bureau has approved Lenovo Group's proposed $2.3 billion deal to buy IBM Corp's low-end server business.

The deal, announced in January, is expected to be completed by the end of the year, said Lenovo Chief Executive Yang Yuanqing on Wednesday, but still requires U.S. regulatory approval.

(Reporting by Paul Carsten)

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