Speculation Mounts Over Lenovo Bid for Brazil's Positivo

Speculation persists that Lenovo Group is close to an acquisition of Brazil's largest PC maker, Positivo Informatica, but the company remains coy about its intentions.

"We won't confirm or deny. There's nothing new to report," said Lenovo spokesman Ray Gorman in an e-mail response to a question about a Brazilian news report (in Portuguese) that claimed Lenovo will soon make a bid for the PC maker.

Last week, Lenovo said it was holding acquisition talks with another PC maker, but did name the company. At the same time, reports emerged the company was in talks with Positivo.

Last Friday, Positivo released a statement saying it had no buyout offers to disclose.

"Considering the unpredictable nature of transactions of this type, confidentiality in the initial phases must be maintained to contain any speculations that could generate inconsistent expectations for investors," the statement said.

If an acquisition deal is reached, the deal will be Lenovo's first major acquisition since its 2005 buyout of IBM's PC division and give the company a significantly stronger position in Brazil's fast-growing PC market.

(Agam Shah, in San Francisco, contributed to this report.)

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