China's Lenovo's bid for PC maker Packard Bell hit by rival's deal

0 Comments | AFP, August, 2007

BEIJING (AFP) — China's Lenovo said Tuesday it was still hopeful to buy major European personal computer maker Packard Bell despite an acquisition by rival Acer that reportedly could foil the deal.

"We remain interested in Packard Bell and we are reviewing our options," Lenovo's spokesman Jay Chen told AFP.

Earlier this month, Lenovo announced that it had signed a memorandum of understanding to buy Netherlands-based Packard Bell, a move highlighting the Chinese computer maker's ambition to tap the European market.

However, the Shanghai Securities News said Tuesday that the plan may be aborted as Taiwan's Acer announced Monday it had signed a deal to buy Gateway for 710 million dollars and would indirectly take control of Packard Bell.

Gateway, the...