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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: sea_urchin who wrote (22133)	12/8/2004 4:55:32 AM
From: GUSTAVE JAEGER	Read Replies (1) \| Respond to of 81057

Told you so --the Chinese are coming... and shopping: IBM Selling PC Unit to China's Lenovo Wed Dec 8, 2004 04:01 AM ET By Scott Hillis and Eric Auchard BEIJING/SAN FRANCISCO (Reuters) - IBM is selling its PC-making business to China's largest personal computer company, Lenovo Group Ltd., for $1.25 billion, marking the U.S. company's retreat from an industry it helped pioneer in 1981. The deal, which forms the world's third-largest PC maker, is the largest overseas acquisition by a Chinese company and the latest example of a Chinese company buying a Western brand to make its mark on the world stage. [...] DEAL DETAILS Lenovo will take ownership of IBM's "Think" trademark family, including its ThinkPad notebook brand and its ThinkCenter desktop line. It will also buy out IBM's interest in its PC-making joint venture with Lenovo rival Great Wall Technology, China's number two PC maker. Lenovo will hire 10,000 IBM PC employees, including about 2,300 in the United States -- mostly product designers, marketers and sales specialists. The remaining 7,700 are mostly in the Great Wall venture in China. [...] reuters.com